In this hour, SOL touched $122.13, surpassing the prior two-hour high of $121.97, but the close fell back to 121.58, almost right at this hour’s low. The attempt to test higher failed; chasing the intra-hour high’s breakout signal would run into counterexamples.

Beijing time Oct 4, 23:00 to Oct 5, 00:00: the spot trading volume was 23,082.99 SOL, up about 34% from the previous hour. Trading was more active, yet the price still didn’t hold the new high into the close.

I’ll first look for a rise then a pullback. In the future, if 1H closes again below 121.57, the weakness will be confirmed and extended; if it closes above 122.13, the view that the high attempt failed will be invalidated.

I will wait until the close pulls back to 122.13 before changing my call. Do you think if price revisits this high point again during the session, it would indicate that the sell pressure above has been digested?

Source: Official spot SOL-USDT 1H, confirm=1, as of 2026-10-05 00:00 Beijing time; the adjacent hours use the same criteria.

Crypto assets are high-risk and this is not investment advice.