$SOL is trading around 122–123 USD on Binance, slightly red on the day with a mild pullback 📉.
Price is sitting below the 50-day and 200-day moving averages, so the higher‑timeframe trend is still in a corrective phase 📉.
Intraday candles show long downside wicks, which means buyers are stepping in on dips and absorbing some selling pressure 📈.
Volume is lower than the big spike days from the last rally, suggesting this is more profit‑taking than a full risk‑off move 📉.
As long as SOL holds above its recent support zone near the local lows, the broader bullish structure from earlier in the year remains intact 📈.
A clean break back above the nearest resistance band could trigger another leg up toward the next supply zone on the chart 📈.
If that support fails, price can quickly revisit the prior consolidation area, offering better long entries for patient traders 📉.
