#solana $SOL retrocedes 1.40% and tests its bullish structure this September 28
Solana retreats 1.40% to USD $118.49 in a day of profit-taking after weeks of strong bullish momentum, although the medium-term technical structure remains intact: price is still above all its major moving averages, and SOL ETFs continue to capture record inflows.
Market evidence supports it: SOL reached USD $124 on September 27 after rising 68% in two months, and today it moves away from the 90-day high of USD $124.58, with a price trading 1.47% below the intraday VWAP of USD $120.26—signaling that sellers dominated the session.
Solana maintains a market capitalization of USD $69.65 billion, placing it among the sector’s highest-cap assets, with a price 59.61% below its all-time high of USD $293.41 on January 19, 2025. That discount versus the ATH, combined with a 56.80% return over 90 days, points to an asset in a valuation rebuilding phase after a deep bearish cycle.
Recommendation: HOLD, with staggered buys only on pullbacks to defined support levels.
Methodology: out of five signals evaluated, three support further upside and two advise caution. In favor: trend aligned across all SMAs (bullish), MACD with a positive histogram (bullish), and confirmed institutional flows via ETFs (bullish). Against: stochastic at 78.5 near overbought (caution) and price below the intraday VWAP with short-term selling pressure (caution). Elevated volume, up 8.47% over average, validates interest without confirming aggressive distribution.
Short term: wait for tests of USD $118.35 (SMA-7) or USD $116.75 (SMA-10), using reaction candles to enter; stop-loss below USD $111.05 and partial profit-taking at USD $124.58.
Solana is going through a digestive pause within a three-month uptrend, with institutional catalysts still active and downside macro risks.
Solana retreats 1.40% to USD $118.49 in a day of profit-taking after weeks of strong bullish momentum, although the medium-term technical structure remains intact: price is still above all its major moving averages, and SOL ETFs continue to capture record inflows.
Market evidence supports it: SOL reached USD $124 on September 27 after rising 68% in two months, and today it moves away from the 90-day high of USD $124.58, with a price trading 1.47% below the intraday VWAP of USD $120.26—signaling that sellers dominated the session.
Solana maintains a market capitalization of USD $69.65 billion, placing it among the sector’s highest-cap assets, with a price 59.61% below its all-time high of USD $293.41 on January 19, 2025. That discount versus the ATH, combined with a 56.80% return over 90 days, points to an asset in a valuation rebuilding phase after a deep bearish cycle.
Recommendation: HOLD, with staggered buys only on pullbacks to defined support levels.
Methodology: out of five signals evaluated, three support further upside and two advise caution. In favor: trend aligned across all SMAs (bullish), MACD with a positive histogram (bullish), and confirmed institutional flows via ETFs (bullish). Against: stochastic at 78.5 near overbought (caution) and price below the intraday VWAP with short-term selling pressure (caution). Elevated volume, up 8.47% over average, validates interest without confirming aggressive distribution.
Short term: wait for tests of USD $118.35 (SMA-7) or USD $116.75 (SMA-10), using reaction candles to enter; stop-loss below USD $111.05 and partial profit-taking at USD $124.58.
Solana is going through a digestive pause within a three-month uptrend, with institutional catalysts still active and downside macro risks.
