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Despite completing a small local wave, SOL is now showing textbook Fibonacci retracement behavior. However, the daily structure remains rock solid. ๐๏ธ Only the 8-hour timeframe shows mild divergence with weak bearish momentum. ๐
For those who have already fully exited, shorting here carries limited upside. The 93.5 - 92.25 zone provides strong support. ๐ก๏ธ Entry costs are currently elevated. If price corrects into the 94.25 - 93.65 range, consider only small positions. ๐พ
Once SOL retests and breaks above 96.66 for the second time, prepare for a decisive assault on the 100 mark. ๐ At that point, a market buy to add positions is viable, with a defense line set at 92. ๐ฏ
The next short-term bottom sits in the 87 - 85 region. Unless a major negative catalyst emerges, a drop below this zone is highly unlikely. โ Therefore, positions with an average cost below 89 can be held confidently. ๐ผ
I have emphasized this for two months: as long as SOL holds above 87 in the short term, a massive pump is inevitable above. โณ It's simply progressing slower than expected. For context, I have held my SOL long position for over two months, surviving a brutal liquidation wave at 46. ๐ช My conviction is absolute: hold 100% from the bottom, continuously scale in, and never exit the market. ๐ฅ
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