SOL is showing signs of exhaustion after a prolonged accumulation around the 127 — 130 USDT range. The current market lacks real momentum from news or large capital flows to push prices past the strong resistance zone of 133 — 135 USDT. Instead, buying momentum is gradually weakening, while the liquidity zones below are slowly revealing themselves as a tasty bait for sharks.
The support zone of 120 — 124 USDT has been tested multiple times, and the more it is tested, the weaker it becomes. Once it is broken, the market will easily plunge towards the 111 USDT zone — where a large amount of liquidity is waiting, and there is a possibility of a deeper bottom sweep towards 108 USDT. This is also the point where Smart Money may step in to scoop up at good prices before any real upward wave occurs.
In the macro context, there is nothing special, and investor sentiment is cautious after recent drops, making the possibility of SOL continuing its downtrend quite plausible. Stay alert! Don't get swept up in minor rebounds, only to get trapped at high prices.
If you are trading according to Smart Money, be patient and wait for a sweep to 111 — 108 and observe the price reaction. When the market is most fearful, that is when real opportunities are created.