$SOL Analysis + Next Move 🚨📈
$SOL is currently navigating a high-stakes cooling phase, trading near the $116 - $123 range as it faces broader market bearishness. While January is historically a strong month for Solana—averaging a 59% yield—the price has recently dropped over 14% in the last two weeks, struggling to maintain its early-month momentum.
🔍 The Quick Analysis:
The technical structure is currently weak, with $SOL trading below its 50-day EMA ($133.83) and 100-day EMA ($144.10). However, on-chain data shows massive supply absorption, with dense volume clusters between $110 and $150 suggesting that long-term holders are accumulating while retail panic-sells. ETF inflows also remain positive, adding $13.14M in the last week alone, which provides a solid floor against a total collapse.
🎯🔮 THE NEXT MOVE 🔮🎯
• The Breakout: A clean reclaim and daily hold above $131 - $133 is the primary trigger needed to flip the narrative bullish. If this resistance breaks, the next targets are $150 and eventually $184 by late February. 🚀⚡
• The Breakdown: Watch the $116 fail-safe level like a hawk. If buyers fail to defend this zone, a rapid decline toward the $104 weekly demand shelf or even the $88 - $95 structural base is highly likely. 📉🎯
• Bottom Line: #sol is coiling for a massive move. Avoid trading the middle of the range; wait for a confirmed bounce at $116 or a breakout above $133 to capture the next leg of expansion. 🛑🧠
Are you buying the dip at $116 or waiting
