【SOL 4H】ETF outflows, but 4H lows are rising
Everyone thinks that $SOL funds flowing out means prices should keep falling, but both the highs and lows on the 4H chart are rising.
Current situation: Binance quoted SOL at 107.8 at 23:04. It’s stuck between the support zone at 105.1–106.3 and the resistance zone at 107.8–111.4.
① Structure: The 4H chart is in an uptrend, with 101.69 as the low for this move.
② Volume and price: Trading volume over the last 10 4H candles is 1.32 times the average of the previous 30, showing strong volume behind the rebound.
③ Confluence: The resistance zone overlaps with Fib 0.382 (110.58), making it a likely hurdle on the way up.
There’s bearish news too: spot SOL ETFs saw net outflows of $24.8 million last week, ending a 14-week streak of inflows.
I think buying a pullback offers better value than chasing a rally.
Plan 1 (primary): Consider placing a small long order at 105.1–106.3, with a stop-loss at 103.87, first target at 109.62, and second target at 112.79.
Plan 2 (backup): If the price rebounds to around 110.6 on declining volume and stalls, consider placing a small short order, with a stop-loss at 112.3 and a target at 106.3.
Invalidation condition: If a 4H candle closes below 103.87, the structure is broken; exit the long and admit the trade was wrong.
If SOL pulls back to 105, are you buying or sitting it out?
Sources: The Block, Binance
$SOL #Solana #Technical Analysis
#Binance Square
⚠️ The above is a summary of information and personal opinion, and does not constitute investment advice. DYOR.
Everyone thinks that $SOL funds flowing out means prices should keep falling, but both the highs and lows on the 4H chart are rising.
Current situation: Binance quoted SOL at 107.8 at 23:04. It’s stuck between the support zone at 105.1–106.3 and the resistance zone at 107.8–111.4.
① Structure: The 4H chart is in an uptrend, with 101.69 as the low for this move.
② Volume and price: Trading volume over the last 10 4H candles is 1.32 times the average of the previous 30, showing strong volume behind the rebound.
③ Confluence: The resistance zone overlaps with Fib 0.382 (110.58), making it a likely hurdle on the way up.
There’s bearish news too: spot SOL ETFs saw net outflows of $24.8 million last week, ending a 14-week streak of inflows.
I think buying a pullback offers better value than chasing a rally.
Plan 1 (primary): Consider placing a small long order at 105.1–106.3, with a stop-loss at 103.87, first target at 109.62, and second target at 112.79.
Plan 2 (backup): If the price rebounds to around 110.6 on declining volume and stalls, consider placing a small short order, with a stop-loss at 112.3 and a target at 106.3.
Invalidation condition: If a 4H candle closes below 103.87, the structure is broken; exit the long and admit the trade was wrong.
If SOL pulls back to 105, are you buying or sitting it out?
Sources: The Block, Binance
$SOL #Solana #Technical Analysis
#Binance Square
⚠️ The above is a summary of information and personal opinion, and does not constitute investment advice. DYOR.