After $SOL surged above $110, it started to feel a bit out of breath.
At the moment, SOL is around $110.6. Over the past two days, it was pulled up from around $100 all the way to around $114. The highest daily gain exceeded 10%, and then it pulled back about 2% from the highs. This rally wasn’t ground out with small green candles—it was a rapid upswing on increasing volume, which suggests real money has indeed come in. But after a streak of consecutive big gains, the cost for short-term chasing capital has also clearly risen.
Now the most crucial factor is the prior high pressure around $114. If it continues to break out on high volume and holds its ground, there’s a possibility that the market still has room to move higher. However, if it spikes and then trading volume can’t keep up, and repeatedly falls back toward the $110 area, short-term price action is likely to enter a range-bound consolidation mode.
At this level, I wouldn’t chase the rally. If you already hold positions from the lower area, you can let your profits run a bit. If you haven’t gotten on yet, wait for a pullback to confirm before deciding—it’s more comfortable than directly chasing a bullish candle. On the other hand, if at the high end it attempts another push on strong volume but can’t break through, and then keeps weakening afterward, short-term bearish momentum will likely become active again.
At the moment, SOL is around $110.6. Over the past two days, it was pulled up from around $100 all the way to around $114. The highest daily gain exceeded 10%, and then it pulled back about 2% from the highs. This rally wasn’t ground out with small green candles—it was a rapid upswing on increasing volume, which suggests real money has indeed come in. But after a streak of consecutive big gains, the cost for short-term chasing capital has also clearly risen.
Now the most crucial factor is the prior high pressure around $114. If it continues to break out on high volume and holds its ground, there’s a possibility that the market still has room to move higher. However, if it spikes and then trading volume can’t keep up, and repeatedly falls back toward the $110 area, short-term price action is likely to enter a range-bound consolidation mode.
At this level, I wouldn’t chase the rally. If you already hold positions from the lower area, you can let your profits run a bit. If you haven’t gotten on yet, wait for a pullback to confirm before deciding—it’s more comfortable than directly chasing a bullish candle. On the other hand, if at the high end it attempts another push on strong volume but can’t break through, and then keeps weakening afterward, short-term bearish momentum will likely become active again.