$SOL Breakdown Risk – Will Support Hold or Collapse?
$SOL surged toward $137.50 but quickly reversed, forming a bearish engulfing structure on the 15m chart. It’s now testing support near $134.50. The next move could bring sharp volatility.
Key Technical Zones:
• Resistance Zone: $136.80 – $137.50 (strong rejection area)
• Support Zone: $134.00 – $133.80 (critical for bullish defense)
Trade Setup – Breakout or Breakdown in Play
Bullish Entry: Above $137.50
• Target 1: $139.20 (Fibonacci extension)
• Target 2: $141.00 (psychological resistance)
• Stop-Loss: Below $133.80
Bearish Entry: Below $133.80
• Target 1: $131.60 (previous swing low)
• Target 2: $128.00 (demand zone)
• Stop-Loss: Above $137.50
SOL printed a fakeout above $137 and is now pulling back on increased volume. If $134.00 breaks, a deeper correction could unfold. But if bulls defend it, expect another push toward highs. This zone is crucial — watch price reaction closely!