$SOL a test of 122.9: breakout or pullback?
$SOL is trading at US$121.9, +1.72% in 24h and just +0.09% in 7 days. The 24h range was between US$119.5 and US$122.0, with volume of US$131M.
On the 4h timeframe, the EMA20 is at 120.0 and the EMA50 at 119.2, which keeps an uptrend. The RSI14 at 61.6 still suggests room to move higher.
Key levels are support at 120.0 and resistance at 122.9 (also 123.8). If it breaks 122.9, the next target would be 123.8; the downside would be invalidated. On the other hand, a drop below 120.0 would open the 116.4 area and invalidate the bullish case.
Binance futures show funding of +0.0100% every 8h and open interest rose 3.6% in 24h, reaching US$1,033M, with 63% of accounts in long. This suggests some buyer bias, but also financing pressure.
I wouldn’t enter now—this smells like a trap if the price doesn’t break 122.9 with strength. Does it break 122.9 or retest 120.0? 🟢/🔴
#Solana #DeFi
This is not financial advice. Check before investing.
$SOL is trading at US$121.9, +1.72% in 24h and just +0.09% in 7 days. The 24h range was between US$119.5 and US$122.0, with volume of US$131M.
On the 4h timeframe, the EMA20 is at 120.0 and the EMA50 at 119.2, which keeps an uptrend. The RSI14 at 61.6 still suggests room to move higher.
Key levels are support at 120.0 and resistance at 122.9 (also 123.8). If it breaks 122.9, the next target would be 123.8; the downside would be invalidated. On the other hand, a drop below 120.0 would open the 116.4 area and invalidate the bullish case.
Binance futures show funding of +0.0100% every 8h and open interest rose 3.6% in 24h, reaching US$1,033M, with 63% of accounts in long. This suggests some buyer bias, but also financing pressure.
I wouldn’t enter now—this smells like a trap if the price doesn’t break 122.9 with strength. Does it break 122.9 or retest 120.0? 🟢/🔴
#Solana #DeFi
This is not financial advice. Check before investing.
