Current Trend Status: Bearish Retracement/Consolidation. Following a strong upward rally earlier in the year (which established the primary trend), SOL is currently experiencing a structured corrective phase on the intermediate timeframes.
Structural Breakdown: The structure is defined by a series of Lower Highs (LH) and Lower Lows (LL). However, the market is approaching a massive, multi-month weekly demand zone (see chart).
Key Event (MS): The critical moment to watch for is a CHoCH (Change of Character) at the intermediate Lower High. If the price can break $95.00 with strong momentum, it would signal the completion of the retracement and a potential resumption of the primary bullish trend toward previous highs. Failure to hold the$ $60.00 zone would signal a deeper structural breakdown.