SOL · 1H · UPTREND
Price ripped from the 96–97 zone all the way to 120 — a clean 24-point leg — and is now pulling back into the 115–117 zone. The daily trend is firmly up, the last short read was stopped out at 103.50 when bulls reclaimed that level hard, and since then the structure has been nothing but higher highs and higher lows. I'm not chasing the move from 116 with the nearest dense liquidation cluster sitting at 115.6 directly beneath me — that's a sweep target, not a floor — but I'm not fading this trend either. The structure is telling me to wait for the 115.6 cluster to get swept, let price reclaim the 116–117 zone cleanly, and then ride the next leg toward the 118.5 cluster and beyond. The news flow on SOL isn't a direct catalyst I can pin to this candle, so I'm staying pure technical here. Funding at +0.01% per 8h is mild — not a crowding problem — and open interest at $701M tells me real positioning is behind this move, not just a thin air pump.
LONG SCENARIO
Confirmation
114.50
Price dips into the 114.50–115.60 zone (sweeping the dense liquidation cluster below), then closes back above 116.50 on the 1H — that sweep-and-reclaim sequence confirms the cluster has been cleared and longs are back in control.
Invalidation
113.00
1H close below 113.00 — that level breaks the structure of the most recent higher low visible on this chart and puts the 108–109 consolidation zone in play.
Target 1
118.50
Dense liquidation cluster directly above, where trapped shorts from the recent rejection provide fuel and where I'm trimming the first portion.
Target 2
123.80
Next dense liquidation cluster above, the structural magnet on a clean continuation leg through 118.50.
Risk/Reward
(118.50 − 116.50) / (116.50 − 113.00) = 2.0 / 3.5 → 0.6:1 at confirmation vs invalidation raw, but from the sweep entry at ~115.60: (118.50 − 115.60) / (115.60 − 113.00) = 2.9 / 2.6 ≈ 1.1:1 to T1, 3.2:1 to T2
Resistance: 118.50 / 123.80
Support: 115.60 / 113.00
This is not financial advice. Content is AI-generated.