I’m watching $SOL closely here, but I’m not seeing a clean bullish setup yet. Price is sitting at 16,439, below the visible MA60 at 16,464, after a sharp drop from the recent highs near 16,490. The recovery is there, but momentum looks unstable.

The key area I’m watching is 16,416–16,395. Price recently dropped through this zone toward 16,395 before bouncing back. If buyers can reclaim 16,464 and hold above it, I’d consider a recovery toward 16,480 and potentially 16,501. Until then, I’m cautious about chasing a bounce.

Trade idea — conditional setup:

📍 Entry: 16,465–16,480, only after price reclaims this area and holds.

🎯 TP1: 16,480

🎯 TP2: 16,501

🎯 TP3: Not justified by the visible chart.

🛑 Invalidation: A move below 16,395 would weaken the recovery idea.

The reasoning is straightforward: reclaiming the MA60 could support another push higher, while failure to recover it leaves price vulnerable to renewed selling.

I’d rather wait for confirmation than enter during these sharp swings. The chart is choppy, so this setup needs a clearer reaction before I’d consider it actionable.