TECHNICAL ANALYSIS | $SOL
$SOL is being absorbed back above $107,968 after briefly breaking below the range and reacting from the demand support at $107,954. The key level to avoid a deeper drop is at $106,000.
• Zone: defend the immediate support area between $106,000 and $108,000 at the close of this 4H candle.
• Invalidation: a 4H close below $106,000 confirms a break in structure and opens the way for a drop toward the lower demand zone ($97,505 - $102,000).
• Target: bounce directly back to reclaim the local range high at $112,000 and attempt to test resistance at $116,793.
Will the defense above $106,000 hold, or will price break toward the lower demand zone? 📈
#solana
$SOL is being absorbed back above $107,968 after briefly breaking below the range and reacting from the demand support at $107,954. The key level to avoid a deeper drop is at $106,000.
• Zone: defend the immediate support area between $106,000 and $108,000 at the close of this 4H candle.
• Invalidation: a 4H close below $106,000 confirms a break in structure and opens the way for a drop toward the lower demand zone ($97,505 - $102,000).
• Target: bounce directly back to reclaim the local range high at $112,000 and attempt to test resistance at $116,793.
Will the defense above $106,000 hold, or will price break toward the lower demand zone? 📈
#solana