— Deep pullback to major support 💪💪
SOLUSDT
Permanent
128.14
-0.56%
SOL has been in a state of free fall for the past few weeks. In the higher time frames, key support and resistance areas have been clearly defined. The $250 level acted as a significant resistance zone, with multiple rejections showing that sellers were in control there.
On the downside, the support area at $125 showed clear strength, as bulls defended this area and produced strong bounces every time prices revisited it.
The low price at $126 offers an attractive buying opportunity, especially with the liquidity on the sell side and the quarterly level at $124.54 below, adding further alignment. Additionally, the 8-dollar weighted average price is around $114, which roughly aligns with the Fibonacci correction of 0.886 at $113.3, providing deeper support in case prices drop further.
Long entry areas:
0.786 Fib: $129.13
0.886 Fib: $113.3
Why the 0.786–0.886 area is a key reversal zone.
The Fib area 0.786–0.886 is one of the best places to look for a reversal after a deep pullback. Strong trends tend to take their last dip before bouncing.
Here’s why it works so well:
It's a typical "deep correction" area in strong trends.
Prices often sweep liquidity on the sell side here before reversing.
Many of these alignment patterns use this area exactly as a turning point.
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