$SOL USDT Market Update | Bounce but Still Cautious ⚠️📉
$SOL USDT recently made a strong bounce from the 117 support zone, which acted as a solid demand area 🛡️. Buyers stepped in aggressively from this level, pushing the price back toward the 125–126 range. This confirms that 117 remains a key short-term bottom for now.
However, after the bounce, price is facing selling pressure near 127–130, which is a strong resistance zone 🚧. Multiple rejections from this area indicate that sellers are still active, and the market is not ready for a clean breakout yet.
📉 RSI Insight:
RSI is currently around 40–42, showing weak to neutral momentum. This suggests the bounce is more of a relief move rather than a strong bullish continuation 📊. Bulls need RSI to move above 50 to confirm strength.
🔑 Important Levels to Watch:
• Immediate Support: 124–122 🟢
• Major Support: 117 (critical level) 🔥
• Resistance Zone: 127–130 ❌
• Breakout Level: Above 130 with volume 🚀
🧠 Market Structure:
On higher timeframes, SOL is still in a downtrend after rejecting from the 145–148 zone. Until price reclaims 130+, the overall structure remains range-bound to bearish.
📌 Final View:
As long as SOL holds above 122–124, further consolidation or small bounces are possible. A breakdown below this zone could again open the path toward 120 → 117. Patience is key here ⏳📉📈.
⚠️ This is market analysis only, not financial advice. Trade at your own risk.
👉 What do you think?
Will SOL break 130 soon, or are we heading for another retest of 117? 🤔👇🔥
#StrategyBTCPurchase #FedWatch #Mag7Earnings #Write2Earn #bitcoin $SOL