Headline:
$SOL Testing Key Support – Bounce or Break? 📉📈
Looking at the 1H Chart for
$SOL /USDT, the price action is looking quite intense right now. After a sharp decline from the $105 level, Solana is currently hovering around $98.71, just above its recent local bottom of $96.60.
🔍 Technical Breakdown:
Bearish Momentum: Price is currently trading well below the 9, 25, and 200 EMA, indicating strong selling pressure.
Immediate Support: The $96.60 zone is the line in the sand. If this breaks, we might see a deeper correction.
Resistance Zone: On any relief rally, the $99.90 - $100.30 area (EMA 25) will act as a major hurdle for the bulls.
💡 My Trading Plan:
I’m keeping a close eye on the reaction at $96.60.
If we see a strong rejection/wick there, it could be a scalp Long opportunity back to $100.
However, if we consolidate below $98, a Short flip towards lower liquidity zones might be the play.
What’s your take? Is
$SOL L ready for a reversal, or are we heading lower? Let’s discuss in the comments! 👇
#BinanceSquare #Solana
#SOL #TechnicalAnalysis #CryptoTrading #PriceAction #TradingSetup