$SOL Bullish Setup Forming 📈
Solana is trading at $107.84 - $107.89, +1.93% today. 24h High $109.18 / Low $105.23 with strong volume — 14.00M SOL / $1.50B USDT. Bouncing right now from $100.35 low made on Oct 17.
What I'm seeing:
On 4H,
$SOL broke out of that falling wedge / down channel that was holding since Oct 7 top at $124.99. We swept $100.35 and now pushing back toward $108. RSI is also showing bullish divergence on 4H — price made lower low, RSI made higher low. That's the reversal signal I'm tracking. Date marked 21/10/2026 on my chart, breakout projection toward $113 zone first.
On 1D, picture is bigger. SOL went from $60.03 July bottom to $124.99 September top, then corrected to $100.35. Now price is holding just above the Ichimoku cloud and above $102.89 - $104.79 support. As long as we hold above daily cloud and $100.35, structure is still bullish for me. Mark on chart 22/10/2026 — if $104 support holds, next leg is open.
Resistance I'm watching:
$112.50 - $117.00 - $121.00 - $124.50
If we flip $112.62 - $113.66 with volume, path opens to $121.12 and retest of $124.99 - $126.00 high. New high and pump toward $140.00 looks realistic if Daily low holds, but I need daily close above $124.99 for that.
My plan:
I'm not chasing long at $107.85 in the middle. Two setups — 1) Hold above $105.23 24h low and 4h close above $109.18 for long toward $112.50 first target, 2) If we lose $100.35, I'm out — then $91.85 - $87.71 demand is next.
Invalidation: 4H close below $100.35 and this bullish setup fails.
Are you buying this SOL wedge breakout or waiting for $112.50 flip?
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