$SOL BOUNCE OR FAKEOUT? BULLS NEED TO RECLAIM $168 FAST
$SOL is currently trading at $167.09, posting a modest +3.76% gain, but price action remains capped below layered resistance. After bouncing from the $160.16 low, bulls are struggling to build momentum above $168—raising concerns of a potential bull trap if no follow-through emerges.
Key Price Levels:
• Immediate Resistance Zone: $168.50 – $169.80
• Support Range: $165.60 – $166.50 (needs to hold for further upside)
Trade Setup – Stay Defensive Until Breakout Confirmed:
Bullish Breakout Plan:
• Entry: Above $168.50 with strong candle close
• TP1: $170.80
• TP2: $173.10
• Stop-Loss: Below $165.60
Bearish Setup:
• Entry: If price breaks below $165.60
• TP1: $162.80
• TP2: $160.20
• Stop-Loss: Above $168.50
$SOL needs a convincing move above $168.50 to resume its uptrend. Until then, it remains at risk of further consolidation or pullback. Watch closely—volume and resistance reaction will reveal the next directional move.