$SOL Solana is currently stabilizing near the bottom of its recent range following a significant retracement. While the broader market sentiment remains cautious, the price action suggests a shift from aggressive selling to a period of base building.
Market Analysis
Support & Demand: Significant buying interest is emerging between $116 and $118. Although buyers are hesitant, the exhausted selling pressure indicates the downward momentum is stalling.
The Bull Case: As long as $SOL maintains its position above the critical $112 level, the current structure favors an accumulation phase rather than a fresh breakdown.
Risk Management: A daily close below $112 would invalidate this setup, suggesting further downside. Given the current volatility, a Spot-only approach is recommended to manage risk effectively.
Trade parameters :
Strategy Note:
Patience is essential here. The market is weak but hasn't entered a panic phase. Wait for the base to solidify before expecting an aggressive push toward the targets.
