SOL — Bulls Need to Defend $230 for Continuation

SOL had a strong bullish week, almost tapping the $250 psychological level before rejecting down into the monthly level at $231.77, where price found support and bounced. This level also aligned with the 1.272 Fib extension ($231.96), making it a valid long opportunity.

🟢 Next Long Opportunity

The 0.382 Fib retracement ($230.39) of the move from the $199.32 low is the next key level to watch.

A retest here would:

• Sweep liquidity from the current low
  
• Offer a low-risk entry
  
• Help fill some imbalances
  

📌 Overall, $230 is the level that must hold for bullish continuation.

Targets

• TP1: $238 → R:R ~1:3
  
• TP2: $252.91 (0.786 Fib retracement) → R:R ~1:8+ if momentum continues
  

Risk Management

• Stop-Loss: Below $229 (clear invalidation)
  
• Risk: Only 1% on this trade setup
  

Quick Take

If $230 holds, SOL could set up for another leg higher. This zone offers a clean, low-risk, high-reward long setup with clearly defined invalidation and attractive targets.