SOLANA IS TRYING TO TURN THINGS AROUND Hmm, But Is This Finally the Bounce We've Been Waiting For?
Something interesting is happening with $SOL right now.
Looking at the 1-hour chart, Solana is currently trading around $92.99, after experiencing a significnt decline from the $103–$104 region.
Let's be honest, the chart hasn't looked particularly strong lately. SOL has been making lower highs, and the descending trendline has been acting like a ceiling, preventing buyers from gaining control.
But there's a small development worth watching.
SOL recently touched the $89.89 support area and managed to bounce back toward $93. That's something bulls can work with, although one bounce doesn't automatically mean a trend reversal.
Now, here's what I'm watching.
$94.62 is the first important resistance. This level could become a short-term turning point. If buyers manage to push above it and hold, we could see SOL gradually move toward the next resistance around $97.11.
Above that, $100.38 becomes another important level to watch. A stronger recovery could eventually bring the $103.86 resistance back into focus.
However, there's another side to this setup.
The descending trendline is still important. If SOL gets rejected around the trendline or fails to reclaim $94.62, sellers could regain control. In that situation, the $89.89 support may face another test.
My DCA approach:
Instead of entering with the entire position at once, I'd prefer splitting the planned allocation into smaller portions.
For example, a possible spot accumulation approach could be around $92–$93 initially, followed by smaller additions near $90.50 and $89.90 if the market gives those opportunities.
But DCA doesn't mean buying blindly. If support breaks decisively, the original setup needs to be reassessed.
Trading Setup – SOL/USDT
Entry: $92.00–$93.00
TP1: $94.62
TP2: $97.11
TP3: $100.38
Stop Loss: $89.50
Something interesting is happening with $SOL right now.
Looking at the 1-hour chart, Solana is currently trading around $92.99, after experiencing a significnt decline from the $103–$104 region.
Let's be honest, the chart hasn't looked particularly strong lately. SOL has been making lower highs, and the descending trendline has been acting like a ceiling, preventing buyers from gaining control.
But there's a small development worth watching.
SOL recently touched the $89.89 support area and managed to bounce back toward $93. That's something bulls can work with, although one bounce doesn't automatically mean a trend reversal.
Now, here's what I'm watching.
$94.62 is the first important resistance. This level could become a short-term turning point. If buyers manage to push above it and hold, we could see SOL gradually move toward the next resistance around $97.11.
Above that, $100.38 becomes another important level to watch. A stronger recovery could eventually bring the $103.86 resistance back into focus.
However, there's another side to this setup.
The descending trendline is still important. If SOL gets rejected around the trendline or fails to reclaim $94.62, sellers could regain control. In that situation, the $89.89 support may face another test.
My DCA approach:
Instead of entering with the entire position at once, I'd prefer splitting the planned allocation into smaller portions.
For example, a possible spot accumulation approach could be around $92–$93 initially, followed by smaller additions near $90.50 and $89.90 if the market gives those opportunities.
But DCA doesn't mean buying blindly. If support breaks decisively, the original setup needs to be reassessed.
Trading Setup – SOL/USDT
Entry: $92.00–$93.00
TP1: $94.62
TP2: $97.11
TP3: $100.38
Stop Loss: $89.50
