🚨 $SOL LOST $110: BUYING OPPORTUNITY IN AN UPTREND OR RISK OF A DROP TOWARD $100? 📉⚠️
Solana $SOL has just lost the psychological $110 USDT level and is currently trading at $109.28 USDT after a daily pullback that saw it hit a low of $108.45 USDT.
📌 TECHNICAL ANALYSIS ON THE DAILY CHART (1D):
1️⃣ Short-Term Bearish Signal: The price is below the MA(7) ($116.84) and the MA(25) ($115.13), confirming short-term selling pressure after the pullback from the $124 USDT resistance zone.
2️⃣ Critical Dynamic Support: The broader uptrend line is acting as a line of defense between $104.00 and $105.00 USDT. Losing this zone would trigger a test of the MA(99) near $92.50 USDT.
3️⃣ Recovery Zone: To invalidate the bearish structure, buyers need to push the price to close above $115.00 USDT.
🧠 TACTICAL OUTLOOK AND DEBATE QUESTION:
We’re at a point that will determine the trend for the coming weeks. Those looking to enter Spot positions often wait for a test of the dynamic trendline, confirmed by buying volume.
👇 Follow the price action of $SOL
💬 Will you look to buy in the dynamic support zone ($104–$108), or do you think the correction will take us straight down to test $95?
Solana $SOL has just lost the psychological $110 USDT level and is currently trading at $109.28 USDT after a daily pullback that saw it hit a low of $108.45 USDT.
📌 TECHNICAL ANALYSIS ON THE DAILY CHART (1D):
1️⃣ Short-Term Bearish Signal: The price is below the MA(7) ($116.84) and the MA(25) ($115.13), confirming short-term selling pressure after the pullback from the $124 USDT resistance zone.
2️⃣ Critical Dynamic Support: The broader uptrend line is acting as a line of defense between $104.00 and $105.00 USDT. Losing this zone would trigger a test of the MA(99) near $92.50 USDT.
3️⃣ Recovery Zone: To invalidate the bearish structure, buyers need to push the price to close above $115.00 USDT.
🧠 TACTICAL OUTLOOK AND DEBATE QUESTION:
We’re at a point that will determine the trend for the coming weeks. Those looking to enter Spot positions often wait for a test of the dynamic trendline, confirmed by buying volume.
👇 Follow the price action of $SOL
💬 Will you look to buy in the dynamic support zone ($104–$108), or do you think the correction will take us straight down to test $95?