$SOL Hovering near the 20-day low, I’m sitting tight and waiting for it to pick a side
12/11, $SOL 81.61 USDT, SMC perspective: staying out today and waiting for confirmation.
D1 is bullish, but H4 is bearish, so entering now could easily get you swept out in either direction. Price has broken below the H4 low at 116.25. Momentum is weak, but selling pressure is fading. SOL is closely tracking BTC (0.85 correlation).
Two levels I’m watching:
- Support at 81.25 (20-day low)
- Resistance at 86.02 - 88.04 (H4 Order Block)
If 81.25 holds and price breaks above 88.04, the bulls may have a chance, with a target of 98.36. If 81.25 breaks and price fails to reclaim it, momentum will weaken, with a target of 75.69. I’ll reassess only after an H4 candle closes outside this range.
Risk: D1 ATR is around 5.5%, so price could easily sweep past these levels. Macroeconomic news could cause slippage. Always use a stop-loss.
Personal opinion, not investment advice.
#SOL #Solana #SMC #Layer1 #AxionNews
12/11, $SOL 81.61 USDT, SMC perspective: staying out today and waiting for confirmation.
D1 is bullish, but H4 is bearish, so entering now could easily get you swept out in either direction. Price has broken below the H4 low at 116.25. Momentum is weak, but selling pressure is fading. SOL is closely tracking BTC (0.85 correlation).
Two levels I’m watching:
- Support at 81.25 (20-day low)
- Resistance at 86.02 - 88.04 (H4 Order Block)
If 81.25 holds and price breaks above 88.04, the bulls may have a chance, with a target of 98.36. If 81.25 breaks and price fails to reclaim it, momentum will weaken, with a target of 75.69. I’ll reassess only after an H4 candle closes outside this range.
Risk: D1 ATR is around 5.5%, so price could easily sweep past these levels. Macroeconomic news could cause slippage. Always use a stop-loss.
Personal opinion, not investment advice.
#SOL #Solana #SMC #Layer1 #AxionNews
