$SOL just lost its 4-hour floor — but the real story is hiding one zone higher.
Price tagged the 110.08–109.26 area and got rejected hard. That’s the unfilled gap from the earlier push, and until it’s reclaimed, every bounce is suspect.
The 4-hour chart is still technically bullish: the fast average sits above the slow one, and momentum hasn’t rolled over. But the last 12 candles tell a different story — seven red, a slow bleed from 114 down to the 107.4 low, and now price is hovering just above the 107 area.
That’s the line in the sand. If $SOL loses the ~107 zone, the next liquidity pocket sits near the 103.5 area — that’s where this read is wrong.
Funding is barely positive and open interest is thin, so this doesn’t look like a crowded long squeeze. It reads more like a tired pullback that needs to prove itself. The long/short ratio is leaning heavily long, which actually makes me cautious — the easy money usually isn’t on the crowded side.
My read: the ~107 zone is the decision point. Hold it and the 110.08 gap becomes a magnet. Lose it and the 103.5 area is in play fast.
Tap $SOL to pull up the chart and read these levels yourself. Which zone are you trusting more — the 107 floor or that unfilled gap above? 👇
—
Follow for the next read on this chart.
⚠️ Not financial advice. DYOR.
#SOL #Solana #Crypto #BinanceSquare
Price tagged the 110.08–109.26 area and got rejected hard. That’s the unfilled gap from the earlier push, and until it’s reclaimed, every bounce is suspect.
The 4-hour chart is still technically bullish: the fast average sits above the slow one, and momentum hasn’t rolled over. But the last 12 candles tell a different story — seven red, a slow bleed from 114 down to the 107.4 low, and now price is hovering just above the 107 area.
That’s the line in the sand. If $SOL loses the ~107 zone, the next liquidity pocket sits near the 103.5 area — that’s where this read is wrong.
Funding is barely positive and open interest is thin, so this doesn’t look like a crowded long squeeze. It reads more like a tired pullback that needs to prove itself. The long/short ratio is leaning heavily long, which actually makes me cautious — the easy money usually isn’t on the crowded side.
My read: the ~107 zone is the decision point. Hold it and the 110.08 gap becomes a magnet. Lose it and the 103.5 area is in play fast.
Tap $SOL to pull up the chart and read these levels yourself. Which zone are you trusting more — the 107 floor or that unfilled gap above? 👇
—
Follow for the next read on this chart.
⚠️ Not financial advice. DYOR.
#SOL #Solana #Crypto #BinanceSquare
