I used to jump straight into candles like this before checking what the pullback actually meant. On this SOL 1-hour chart, price swept down to the 116.25 area, then printed a strong reclaim back above all three moving averages (MA7 at 120.94, MA14 at 119.55, MA28 at 118.77). That recovery shifted short-term control back to buyers, but the 124.99 high remains the clear ceiling.
What matters now is the retest. I want to see price hold above the 120.94 MA7 on a pullback, confirming it as support rather than resistance. If that happens, a long toward the 122.80 swing high makes sense. The MA compression is the key detail here — when these averages cluster tightly, it signals indecision, and the resolution usually comes with an expansion move. I’m watching volume on the reclaim; if it dries up on the pullback and expands on the bounce, that confirms buyers are still active.
Entry: 120.90–121.10
SL: 118.70
TP1: 122.80
TP2: 124.90
TP3: 126.50
Invalidation: Close below 118.77
The lesson here is that reclaims after sweeps often need a retest to prove real demand. Don’t chase if it runs straight to 123. If the MA cluster fails, I wait. What’s your read on this retest?
@Salona #solana $SOL
What matters now is the retest. I want to see price hold above the 120.94 MA7 on a pullback, confirming it as support rather than resistance. If that happens, a long toward the 122.80 swing high makes sense. The MA compression is the key detail here — when these averages cluster tightly, it signals indecision, and the resolution usually comes with an expansion move. I’m watching volume on the reclaim; if it dries up on the pullback and expands on the bounce, that confirms buyers are still active.
Entry: 120.90–121.10
SL: 118.70
TP1: 122.80
TP2: 124.90
TP3: 126.50
Invalidation: Close below 118.77
The lesson here is that reclaims after sweeps often need a retest to prove real demand. Don’t chase if it runs straight to 123. If the MA cluster fails, I wait. What’s your read on this retest?
@Salona #solana $SOL