Solana has been in freefall since peaking at nearly $300 on January 19, 2025, dropping a staggering 61% to $115,47 in just 50 days, currently trading at around $119. A support zone for potential reversals.
The big question now: Is this the time to go long, or is more selling pressure ahead? Let’s break it down.
Key Support & Resistance Levels
Lost Key Level at $120
Solana lost the key support at $120, turning it into a resistance zone. For bulls to regain control, SOL must reclaim this level with confirmation and increased volume.
Next Key Lows to Watch
Below the current price, the next key liquidity zones are at $110 and $105, where buyers may step in.
Major Support Zone – $104 to $96
Conclusion: The $104–$97 range becomes a high-probability long entry zone with minimal risk.
Long Trade Setup
Strategy & Execution
With SOL already down over 60%, scaling into a long position makes sense. Here's how to do it the right way:
1️⃣ DCA Strategy – Instead of going all in, scale in gradually within the $118–$97 range for a better average entry.
2️⃣ Volume & Price Action – Watch for a spike in volume and bullish price action before adding to the position.
3️⃣ Psychological Level Play – There are likely many buy orders around $100, meaning a bounce before hitting lower support is possible.
Stay tuned for updates as this trade unfolds! 🚀
The big question now: Is this the time to go long, or is more selling pressure ahead? Let’s break it down.
Key Support & Resistance Levels
Lost Key Level at $120
Solana lost the key support at $120, turning it into a resistance zone. For bulls to regain control, SOL must reclaim this level with confirmation and increased volume.
Next Key Lows to Watch
Below the current price, the next key liquidity zones are at $110 and $105, where buyers may step in.
Major Support Zone – $104 to $96
- If selling continues, we have a strong support zone between $104.14 and $96.96, backed by multiple confluences:
- Anchored VWAP Support: Taking the anchored VWAP from the 2023 lows at $8, we find it currently aligning near $100, a key psychological level.
- Monthly Order Block: On the monthly timeframe, an order block sits right at $100 mark, reinforcing this level as strong support.
- 2024 Yearly Open: The yearly open from 2024 is at $101.72, adding another layer of confluence.
- 0.666 Fibonacci Retracement: Measuring from $8 to the all-time high of $295.83, the 0.666 Fib retracement is at $104.14, further strengthening this support zone.
- Liquidity Pools: There's a lot of liquidity around the $100 area
- Fib Speed Fan Support: The 0.7 Fib speed fan also aligns perfectly with this support zone.
Conclusion: The $104–$97 range becomes a high-probability long entry zone with minimal risk.
Long Trade Setup
- Entry Zone: $118 – $97
- Stop Loss: Below $95
- Take Profit Target: $135
- Average Entry: $105 (DCA)
- Risk-to-Reward (R:R): a solid 3:1 or better
Strategy & Execution
With SOL already down over 60%, scaling into a long position makes sense. Here's how to do it the right way:
1️⃣ DCA Strategy – Instead of going all in, scale in gradually within the $118–$97 range for a better average entry.
2️⃣ Volume & Price Action – Watch for a spike in volume and bullish price action before adding to the position.
3️⃣ Psychological Level Play – There are likely many buy orders around $100, meaning a bounce before hitting lower support is possible.
Stay tuned for updates as this trade unfolds! 🚀
Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups 🔹
⚡ Unlock the power of technical analysis! ⚡
🔹 Sharing high-probability trade setups 🔹
⚡ Unlock the power of technical analysis! ⚡
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups 🔹
⚡ Unlock the power of technical analysis! ⚡
🔹 Sharing high-probability trade setups 🔹
⚡ Unlock the power of technical analysis! ⚡
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.