$SOL ⚠️📊
In the last update, we said losing 127 would get ugly, and that’s exactly what happened. Once 127 snapped, price flushed hard to 116, the bounce was decent, but structurally the chart is still weak.
Right now, three former supports have flipped into resistance.
First, $127 itself must be reclaimed, no discussion there.
Second, the volume profile value area, price is sitting right above the lower VA(Value Area) at $124.63, hovering around $125.3, staying here too long is not healthy.
Third, VWAP remains overhead, and until that flips, downside pressure stays active.
The only positive is that 4H and lower timeframes are showing downside exhaustion, which can spark a relief rally. The key question is simple, does that rally print a higher high above $147, or does it roll into a lower high and continuation down.
Decision zone, not a conviction zone.$SOL
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