The bounce off 109 looks nice until you realize it’s been rejected twice at the same ceiling. That’s not strength — that’s a lid.
$SOL filled its 4H bullish gap between 109.8–111.2 fast, but EMAs remain bearish. Momentum is fading into resistance, not breaking it.
Futures make it worse: funding slightly positive, open interest thin, long/short ratio over 2:1. Crowded side, no fuel.
Weekly still bullishly aligned — so this is a short-term fight inside a bigger range, not a trend change.
Key level: 116. That’s the 4H invalidation at the 0.382 fib. If $SOL can’t clear it, path of least resistance stays lower — 108 first, then 102 if momentum builds. Lose 109.8 on a 4H close and the gap is gone, inviting faster downside.
My read: bounce is real but fragile. Lower timeframes say distribution, higher timeframe says patience. Not trusting any breakout until 116 falls.
I’ll update my read if 109.8 retests and holds — follow so that analysis lands in your feed.
What level are you watching more closely on $SOL — 109.8 or 116? 👇
⚠️ Not financial advice. DYOR.
#SOL #Solana #Crypto #BinanceSquare
$SOL filled its 4H bullish gap between 109.8–111.2 fast, but EMAs remain bearish. Momentum is fading into resistance, not breaking it.
Futures make it worse: funding slightly positive, open interest thin, long/short ratio over 2:1. Crowded side, no fuel.
Weekly still bullishly aligned — so this is a short-term fight inside a bigger range, not a trend change.
Key level: 116. That’s the 4H invalidation at the 0.382 fib. If $SOL can’t clear it, path of least resistance stays lower — 108 first, then 102 if momentum builds. Lose 109.8 on a 4H close and the gap is gone, inviting faster downside.
My read: bounce is real but fragile. Lower timeframes say distribution, higher timeframe says patience. Not trusting any breakout until 116 falls.
I’ll update my read if 109.8 retests and holds — follow so that analysis lands in your feed.
What level are you watching more closely on $SOL — 109.8 or 116? 👇
⚠️ Not financial advice. DYOR.
#SOL #Solana #Crypto #BinanceSquare