$SOL Rejection at $161.25, Now Testing Key Support Zone
SOL attempted a bullish breakout past $161.25 but faced immediate rejection with rising selling volume. Price is now retesting the $160.20–$160.50 zone, a critical short-term demand area. A decisive move from here will define whether bulls can maintain momentum or if a deeper pullback is ahead.
Key Levels to Watch:
Resistance Zone:
• $161.25 – Recent rejection point
• $162.00 – Breakout level for continuation
Support Zone:
• $160.20 – Immediate support
• $159.20 – Breakdown threshold
Trade Setup – Retest Bounce or Breakdown?
Bullish Entry: Break and 15m close above $161.25
• Target 1: $162.00
• Target 2: $163.50
Bearish Entry: Rejection and close below $160.20
• Target 1: $159.20
• Target 2: $157.80
Volume surge shows buyer interest, but supply overhead remains thick. Watch for confirmation from the next 2 candles for directional clarity.