GK-ARONNO
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SOL may outperform even BTC because of this💥🔥
$SOL
{spot}(SOLUSDT)
{future}(SOLUSDT)
After the recent correction, SOL showed one of the strongest recoveries — not counting the manipulative BNB, where 50% of the supply is held by one person. It’s now trading around the key psychological level of $200.
➡️ The price continues to move within a descending channel, and the current correction has stopped exactly at two major levels: the lower boundary of the descending channel and the ascending support of the six-month trend.
➡️ The fact that the price bounced from this area even during such a volatile period shows that buyers still have confidence in SOL. From a technical standpoint, SOL also remains in an overall uptrend.
➡️ During the correction, a large GAP was formed between $221 – $168 (on some exchanges the price slipped even lower). It has already started to partially close upward, but today we saw a bearish engulfing, sending the price lower again.
➡️ Currently, the price is stuck between two key levels — resistance at $200 and support at $187. If the support breaks first, the lower part of the GAP may be filled, with a potential retest at $168.
However, if resistance at $200 breaks first and the price holds above it, a retest of $221 and full GAP closure are likely.
➡️ Buying volumes remain moderate, and overall market sentiment is still negative. But SOL wasn’t as overheated as ETH, meaning fewer liquidations and less frustration among traders.
Plus, the key catalyst right now lies with SOL — the upcoming ETF decision in November.
That’s why I currently lean toward a long position on SOL around $187, if we get a retest.
What do you think? 🤔
{spot}(SOLUSDT)
{future}(SOLUSDT)
After the recent correction, SOL showed one of the strongest recoveries — not counting the manipulative BNB, where 50% of the supply is held by one person. It’s now trading around the key psychological level of $200.
➡️ The price continues to move within a descending channel, and the current correction has stopped exactly at two major levels: the lower boundary of the descending channel and the ascending support of the six-month trend.
➡️ The fact that the price bounced from this area even during such a volatile period shows that buyers still have confidence in SOL. From a technical standpoint, SOL also remains in an overall uptrend.
➡️ During the correction, a large GAP was formed between $221 – $168 (on some exchanges the price slipped even lower). It has already started to partially close upward, but today we saw a bearish engulfing, sending the price lower again.
➡️ Currently, the price is stuck between two key levels — resistance at $200 and support at $187. If the support breaks first, the lower part of the GAP may be filled, with a potential retest at $168.
However, if resistance at $200 breaks first and the price holds above it, a retest of $221 and full GAP closure are likely.
➡️ Buying volumes remain moderate, and overall market sentiment is still negative. But SOL wasn’t as overheated as ETH, meaning fewer liquidations and less frustration among traders.
Plus, the key catalyst right now lies with SOL — the upcoming ETF decision in November.
That’s why I currently lean toward a long position on SOL around $187, if we get a retest.
What do you think? 🤔
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.