SOL — Deep Pullback Into Major Support

17 Nov

SOL has been in a steady freefall over the past weeks. On the higher timeframes the key support and resistance zones are very clearly defined. The $250 level acted as a big resistance area, with multiple rejections showing sellers were firmly in control up there.

On the downside, the $125 support zone has shown clear strength, with bulls defending this area and producing strong bounces each time price revisited it.

The swing low at $126 presents an attractive long opportunity, especially with the sell-side liquidity and the quarterly level at $124.54 sitting just below, adding further confluence. Additionally, the anchored VWAP from the $8 low lies around $114, aligning almost perfectly with the 0.886 Fibonacci retracement at $113.3, providing deeper support should price extend lower.

Long Entry Zones:

• 0.786 Fib: $129.13
  
• 0.886 Fib: $113.3
  

Why the 0.786–0.886 Zone Is a Major Reversal Area

The 0.786–0.886 Fib zone is one of the best spots to look for a reversal after a deep pullback. It’s where strong trends often take their final dip before bouncing.

Here’s why it works so well:

• It’s the typical “deep correction” zone in strong trends.
  
• Price usually sweeps sell-side liquidity here before reversing.
  
• Many harmonic patterns use this exact area as their turning point.
  
• It often lines up with anchored VWAPs or volume nodes, adding extra support.
  
• It’s basically the capitulation zone where weak hands exit right before a bounce.
  

Overall, it’s a clean area with clear invalidation and great R:R → perfect for spotting high-probability reversal setups.
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17 Nov

Catatan

0.786 to 0.786 Fib Cycle: 60-Day Downtrend, -49% Pullback:

5 hari yang lalu

Catatan

SOL Update: Sweep + Reaction 🚀

The plan played out perfectly.

SOL dipped directly into the green support zone, sweeping the key low at $126, exactly where the liquidity was resting. This was the ideal place for a long entry, and the market reacted with precision: wick into support zone → immediate reclaim → bullish follow-through.

Now price is rising cleanly toward the next major area of interest:

• $150
  

This level aligns with the golden pocket (0.618-0.666).

As long as SOL maintains strength on the move up, this zone becomes the first logical reaction point, the next larger resistance cluster is at $180–$187. The ideal scenario would be a sweep of the $171.94 high.