As the SOL lows keep rising and higher lows form, the bulls are gathering strength and waiting to break through 121.4!
In the last 4 fifteen-minute K-lines over the most recent 1 hour ($SOL ), the lows were 120.97, 121.02, 120.96, and 120.92 respectively. Overall, price has held steadily above 120.9—so the bears can’t slam it down anymore. Now look at volume: in the last two hours, total trading volume jumped 64.93% compared with the first two hours. The increased volume is absorbing sell pressure—who’s doing the buying doesn’t need me to spell it out.
On the 4-hour chart, it opened at 120.78 and closed at 121.14, up 0.3%. The high reached 121.32, and it basically closed near the upper end. This kind of volume-backed pullback that doesn’t break support is the textbook “shakeout and build-up” pattern.
The news flow also helps: CoinDesk reported that in September, the number of posted positions in the crypto space increased. Solana is listed as one of the blockchain skills with the highest demand, indicating the ecosystem is still expanding—there’s no issue with the long-term thesis.
My view is simple: 120.9 is the key support. As long as it holds and isn’t broken, the bulls remain in control. The resistance is at 121.4—once there’s a breakout on increased volume, it will open up room to move. If price breaks below 120.4, then the short-term long setup fails; step aside if you need to.
At this level, there’s no need to chase. A pullback is the opportunity. SOL, go!
In the last 4 fifteen-minute K-lines over the most recent 1 hour ($SOL ), the lows were 120.97, 121.02, 120.96, and 120.92 respectively. Overall, price has held steadily above 120.9—so the bears can’t slam it down anymore. Now look at volume: in the last two hours, total trading volume jumped 64.93% compared with the first two hours. The increased volume is absorbing sell pressure—who’s doing the buying doesn’t need me to spell it out.
On the 4-hour chart, it opened at 120.78 and closed at 121.14, up 0.3%. The high reached 121.32, and it basically closed near the upper end. This kind of volume-backed pullback that doesn’t break support is the textbook “shakeout and build-up” pattern.
The news flow also helps: CoinDesk reported that in September, the number of posted positions in the crypto space increased. Solana is listed as one of the blockchain skills with the highest demand, indicating the ecosystem is still expanding—there’s no issue with the long-term thesis.
My view is simple: 120.9 is the key support. As long as it holds and isn’t broken, the bulls remain in control. The resistance is at 121.4—once there’s a breakout on increased volume, it will open up room to move. If price breaks below 120.4, then the short-term long setup fails; step aside if you need to.
At this level, there’s no need to chase. A pullback is the opportunity. SOL, go!
