$SOL
Update — The weekly structure is still weak
The downward movement does not seem complete yet.
If you look at how the market closed last week on the weekly chart, you will see that sellers are still in control.
For now, I am only focusing on $SOL .
During the weekend, the declines stopped at 117.15, which is just below the 62% Fibonacci retracement level of the full range for 2023–2025 — an important technical reaction level.
However, if the price breaks down, the next main target becomes the monthly gap area:
Monthly gap: 79.33 – 79.61
Midpoint ≈ 56
Key levels to watch
• 115.41 — Midpoint of the demand block in April 2025
• 104.67 — Lower bound of that area
• 101.80 — Opening level for 2024
• 79.61 — Upper edge of the monthly gap
• 69.60 — 78% Fibonacci retracement
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The structure still prefers continued decline.
This is not a market for aggressive long trades — patience and selective positioning are key.