Is buying Solana at $119 a stroke of genius or a bull trap?
The market of $SOL is burning the bears after breaking out of a seven-month accumulation range. Despite a slight technical pullback from $124 to the current $118–$119 area, the institutional data reveals something that most retail traders are completely ignoring.
Risk Analysis:
I maintain a firmly bullish outlook for $SOL in the medium term due to a combination of an institutional supply-and-demand shock. This week, U.S. spot Solana ETFs logged a historic record of $188 million in net inflows. At the same time, corporations such as DeFi Development Corp (DFDV) have increased their Solana treasuries by 10% in just six weeks. Technically, as long as price holds the macro support of $114–$115, the rebound toward the key resistance at $128 remains on the table, driven by expectations for the Alpenglow update. If we lose $114, the price will revisit the 20-day EMA at $111.
Trade Simulation (Swing Trade):
Direction: LONG (Buy) in spot or low-leverage futures.
Entry Zone: Between $116.50 and $119.00.
Take Profit 1: $124.80 (Recent high).Take Profit 2: $132.00 (Breakout extension).
Stop Loss: $113.20 (Below the critical short-term support).
Institutional liquidity calls the shots, and capital flow doesn’t lie. Do you think $SOL will break above $130 before the end of October, or will we see an even deeper correction?
Leave your opinion in the comments.
Follow me for more trading content.
The market of $SOL is burning the bears after breaking out of a seven-month accumulation range. Despite a slight technical pullback from $124 to the current $118–$119 area, the institutional data reveals something that most retail traders are completely ignoring.
Risk Analysis:
I maintain a firmly bullish outlook for $SOL in the medium term due to a combination of an institutional supply-and-demand shock. This week, U.S. spot Solana ETFs logged a historic record of $188 million in net inflows. At the same time, corporations such as DeFi Development Corp (DFDV) have increased their Solana treasuries by 10% in just six weeks. Technically, as long as price holds the macro support of $114–$115, the rebound toward the key resistance at $128 remains on the table, driven by expectations for the Alpenglow update. If we lose $114, the price will revisit the 20-day EMA at $111.
Trade Simulation (Swing Trade):
Direction: LONG (Buy) in spot or low-leverage futures.
Entry Zone: Between $116.50 and $119.00.
Take Profit 1: $124.80 (Recent high).Take Profit 2: $132.00 (Breakout extension).
Stop Loss: $113.20 (Below the critical short-term support).
Institutional liquidity calls the shots, and capital flow doesn’t lie. Do you think $SOL will break above $130 before the end of October, or will we see an even deeper correction?
Leave your opinion in the comments.
Follow me for more trading content.