⬤ Solana took a hard tumble recently, sliding all the way down to the low $80s before showing signs of recovery. Now traders are eyeing a key technical zone that could decide what happens next.
⬤ The focus is on a Fibonacci retracement area sitting between $104 and $110—right around the 0.618 level. After big moves like this, price often retraces into previous structure, and this zone looks like a natural spot for that to play out.
⬤ The chart suggests SOL might bounce toward that resistance band rather than continuing straight up. This kind of pullback usually follows strong momentum runs and doesn’t necessarily mean a full reversal is coming.
⬤ What happens at the $104–$110 level will tell us a lot. If SOL gets rejected there, we could see more sideways action. But if it pushes through cleanly, that would point toward continuation. Either way, that zone is where the market’s attention is focused right now.
Solana Eyes $104–$110 Retracement After Drop to Low $80s
⬤ Solana took a hard tumble recently, sliding all the way down to the low $80s before showing signs of recovery. Now traders are eyeing a key technical zone that could decide what happens next.
⬤ The focus is on a Fibonacci retracement area sitting between $104 and $110—right around the 0.618 level. After big moves like this, price often retraces into previous structure, and this zone looks like a natural spot for that to play out.
⬤ The chart suggests SOL might bounce toward that resistance band rather than continuing straight up. This kind of pullback usually follows strong momentum runs and doesn’t necessarily mean a full reversal is coming.
⬤ What happens at the $104–$110 level will tell us a lot. If SOL gets rejected there, we could see more sideways action. But if it pushes through cleanly, that would point toward continuation. Either way, that zone is where the market’s attention is focused right now.