$SOL Spot setup, based on the weekly chart.
The most critical technical level is the multi year support around $95. This zone has historically acted as a massive accumulation area. My thesis is simple as long as SOL holds above this, the long term structure remains intact.
I'm not goin all in here, Instead, I'm considering scaling in with partial buys near this major support.
The trade only turnsbullish on a sustained weekly close above $150 that's the confirmation of a new bullish phase and would be a signal to add.
A weekly close below $95 it would invalidate the multi-year support. In that scenario, I'm out.
The next major historical support isn't until the $40 region, and I won't add anymore.
Accumulate in parts near key support.
Bullish Confirmation ✓Above $150.
SOL
127.56
-0.85%