$SOL MORNING OUTLOOK ... RECOVERY BOUNCE OR ANOTHER TRAP?
SOL suffered a sharp sell-off from the 121–122 area and dropped as low as 105.61, where buyers finally stepped in.
Price is now recovering around 110, but the short-term structure is still weak until SOL reclaims the nearby resistance zones.
Key Support: 103–105
Recovery Zone: 108–110
First Resistance: 112
Next Target: 115–116
Extended Target: 120+
As long as 105 holds, I see a possible recovery toward 112 first, then 115–116 if momentum strengthens.
But if 105 breaks, the bounce setup is invalid and another leg lower becomes possible.
For now, this looks like a support reaction ... not a confirmed trend reversal yet.
Trade on $SOL
SOL suffered a sharp sell-off from the 121–122 area and dropped as low as 105.61, where buyers finally stepped in.
Price is now recovering around 110, but the short-term structure is still weak until SOL reclaims the nearby resistance zones.
Key Support: 103–105
Recovery Zone: 108–110
First Resistance: 112
Next Target: 115–116
Extended Target: 120+
As long as 105 holds, I see a possible recovery toward 112 first, then 115–116 if momentum strengthens.
But if 105 breaks, the bounce setup is invalid and another leg lower becomes possible.
For now, this looks like a support reaction ... not a confirmed trend reversal yet.
Trade on $SOL