SOL has moved sideways for 8 days, sitting right at a point of balance ahead of the upgrade
Since peaking at 124.95 on 27/9, SOL broke structure and then traded sideways between 100.43 and 109.07. The flat bottom has been tested 4 times around 100.4–101.7, and each time buyers stepped in and pushed the price back up. But the highs keep getting lower: 109 – 108.67 – 107.44 – 106.22.
At 104.4, the price is right in the middle of a dense trading range—entering here is a gamble.
Favorable zone: 100.5–102.5. The bottom of this range has held 4 times, with the 100-day EMA around 100 just below it. Unfavorable zone: 106–108.6. Resistance levels are stacked, and all 3 recent attempts to move higher have been rejected. Invalidating level: a daily candle close below 100, which could send the price sliding to 97.95, then 95.8.
Tomorrow night, 21/10, at around 21:50 Vietnam time, Alpenglow is expected to launch on mainnet, with a target of cutting transaction finality time from around 12.8 seconds to 150 ms, according to Anza.
Do you think Alpenglow can push SOL above 109, or will SOL have to retest 100 for the fifth time?
#SOL #Solana #Alpenglow $SOL
Since peaking at 124.95 on 27/9, SOL broke structure and then traded sideways between 100.43 and 109.07. The flat bottom has been tested 4 times around 100.4–101.7, and each time buyers stepped in and pushed the price back up. But the highs keep getting lower: 109 – 108.67 – 107.44 – 106.22.
At 104.4, the price is right in the middle of a dense trading range—entering here is a gamble.
Favorable zone: 100.5–102.5. The bottom of this range has held 4 times, with the 100-day EMA around 100 just below it. Unfavorable zone: 106–108.6. Resistance levels are stacked, and all 3 recent attempts to move higher have been rejected. Invalidating level: a daily candle close below 100, which could send the price sliding to 97.95, then 95.8.
Tomorrow night, 21/10, at around 21:50 Vietnam time, Alpenglow is expected to launch on mainnet, with a target of cutting transaction finality time from around 12.8 seconds to 150 ms, according to Anza.
Do you think Alpenglow can push SOL above 109, or will SOL have to retest 100 for the fifth time?
#SOL #Solana #Alpenglow $SOL