๐ข 1. Market Structure & Context
Since early April, SOL has broken out of a heavy accumulation zone at 119โ124 USDT, where sellersโ stops were repeatedly hit and price found equilibrium. The break above 136โ138 USDT marked a decisive Change of Character (CHoCH), followed by a Break of Structure (BOS) over 141 USDT. This attracted fresh buying and drove price to a weak high of 157 USDT. SOL is now retracing to the 144โ146 USDT area, retesting long positions and shaking out shorts.
๐ข 2. Key Levels
- Resistance 155โ157 USDT: weak high zone where sellers are defending.
- Retest Zone 144โ146 USDT: immediate support hosting short-stop clusters.
- Pivot Level 136โ138 USDT: site of initial CHoCH and BOS that launched the rally.
- Accumulation Base 119โ124 USDT: foundational support for the entire uptrend.
๐ข 3. Volumes in Focus
- Volume spiked on the 136โ138 USDT breakout, confirming bull control.
- Volume tapered off approaching 155โ157 USDT, indicating buyer fatigue.
- Modest volume uptick on bounces from 144โ146 USDT, showing tactical buy-the-dip interest.
๐ข 4. Important Technical Signals
- CHoCH Up around 136 USDT: shift to bullish dominance.
- BOS Above 141 USDT: confirmation of a new upward structure.
- Weak High at 157 USDT: immediate seller barrier.
- Short-term BOS Down on the retracement to 144 USDT: micro-signal within the pullback.
๐ข 5. Possible Development Scenarios
- Bullish: Holding 144โ146 USDT and a volume-backed break above 155โ157 USDT paves the way to 165โ170 USDT, then to the psychological 180 USDT.
- Bearish: A drop and close below 144 USDT would retest 136โ138 USDT, and if that fails, return to the 124โ130 USDT range.
๐ข 6. Strategic Recommendations
- Long: Enter on a clear bounce from 144โ146 USDT, stop under 142 USDT, target 155โ157 USDT first, then 165โ170 USDT.
- Short: Look for reversals at 155โ157 USDT, stop above 158 USDT, target 144 USDT initially, then 136โ138 USDT.
๐ข Conclusion
SOL has secured gains above 136โ138 USDT, cleared 141 USDT, and marked 157 USDT. The pullback to 144โ146 USDT is a healthy retest. Defending this zone and triggering a fresh volume surge upward will confirm continuation of the medium-term uptrend.$SOL
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