๐ SOL coiling at $73.41. $72 support has held three times. The fourth test decides everything.
**The Setup**
Honest picture: strong downtrend, below all major SMAs, -5.1% in 7 days, shrinking volume. Not pretty.
But $72 has held three tests in two weeks. Three touches without breaking = strong demand. The question isn't IF it bounces โ it's whether the bounce is meaningful or just another lower-high.
**Why This Is Worth Watching**
๐ SOL ecosystem activity remains robust. On-chain volume, DEX trading, meme activity all elevated. Fundamentals don't match price โ that gap eventually closes.
๐ $72 is the battleground. Bulls need to defend it AND push above SMA7 ($74.45) for conviction.
๐ $40M net inflow over 24H despite weak price. Accumulation in disguise.
โ๏ธ 1.6R if entering near support with tight stop.
**The Plan**
๐ข Entry: $70โ$74 (only if $72 holds retest)
Why: Demand zone with buffer. Wait for retest + confirmed bounce candle.
๐ด SL: $67
Why: Below $70 psychological. Break = headed to $58-60.
๐ฏ TP1: $80 (+9%)
Why: SMA25 daily ($76.54) + previous resistance.
๐ฏ TP2: $88 (+20%)
Why: Pre-breakdown support. Reclaim = downtrend officially over.
Marking HOLD, not BUY. MACD bearish on both timeframes. RSI neutral-weak. Structure hasn't flipped. Wait for $72 retest + volume expansion.
**Confidence: 62%** โ lowest on my board.
โ ๏ธ Risk: BTC breakdown obliterates $72. Regulatory news, network incidents. Watch and react, don't predict.
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๐ค $72 fourth test:
(A) Holds โ quadruple bottom = massive breakout ๐
(B) Breaks โ we see $58 ๐ป
#SOL #Solana #CryptoTrading #KeyLevels
โ ๏ธ Not financial advice. SOL in downtrend โ elevated risk. DYOR.