SOL — From Panic to Precision

yesterday

Last week, we witnessed a sharp, market-wide crash, a chain reaction of liquidations that flushed out overleveraged long positions. While many altcoins saw 60–90% drawdowns, the majors held relatively firm.

Among them, SOL stood out as one of the most technically precise. Price perfectly tapped the 1.1 trend-based Fib extension, in confluence with the yearly level, the 21 monthly SMA and the 0.666 retracement, providing a high probability long setup.

After that bounce, SOL revisited the lows, approaching the yearly level near $170, which remains the key structural support for maintaining bullish momentum. The support zone between $175–$170 aligns with the 21 EMA/SMA on the monthly timeframe, which currently spans $158–$170 → forming a strong macro confluence cluster that’s critical to hold.

From there, price unfolded into a clean 5-wave impulsive structure, topping within a dense resistance zone between $208–$212, reinforced by:

• mOpen at $208.68
  
• 21 EMA/SMA (Daily TF) between $211–$212
  
• 0.618 Fibonacci retracement at $211.43
  

This area offered the perfect low-risk short entry.

Currently, SOL appears to be forming an ABC corrective pattern, likely targeting a move back into the $190–$185 range to fill imbalances and complete wave C. As another key element, the yearly open at $189.31 sits mid-range between resistance and support → a critical pivot level. That’s the region I’ll be monitoring for long setups.

🔍 Indicators used

• DriftLine — Pivot Open Zones [SiDec] → For identifying key yearly/monthly/weekly/daily opens that act as major S/R reference points
  
• Multi Timeframe 8x MA Support Resistance Zones [SiDec] → to identify support and resistance zones such as the monthly 21 EMA/SMA.
  

➡️ Available for free. You can find it on my profile under “Scripts” and apply it directly to your charts for extra confluence when planning your trades.

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yesterday

Note

Bearish trend is still intact, $210 is the key level to watch:

10 hours ago

Note

→ Liquidity swept followed by a +4% instant bounce off the 1.1 trend-based fib extension, giving you the perfect long entry