The short-term market structure remains bearish, indicated by a series of Lower Highs (LH) and Lower Lows (LL). However, the price is currently testing the Major Demand Zone (lower gray box) in the 82.00-85.00 range.
Price Action: Consolidation is observed around 86.19. The emergence of several candles with long lower wicks indicates strong buying interest in the area.
The price is attempting a Change of Character (ChoCH) if it can break through the 90.00 level.
The main bias for SOLUSDT is currently neutral, tending towards bullish in the medium term. Although the micro-market still appears depressed, based on the Elliott Wave structure, we are already in the final correction zone.
✅ Trading Plan:
- Rebound Scenario: If the price is able to maintain above 84.00 and impulsively breaks through the 90.00 level, this will confirm a reversal towards the 98.00-105.00 target.
- Retest Scenario: Beware of a momentary downward movement to sweep up liquidity to the 83.00 level before eventually pulling back up.
- Invalidation: This bullish view will be invalidated if SOL closes a solid H1 candle below the 81.00 level.
Price Action: Consolidation is observed around 86.19. The emergence of several candles with long lower wicks indicates strong buying interest in the area.
The price is attempting a Change of Character (ChoCH) if it can break through the 90.00 level.
The main bias for SOLUSDT is currently neutral, tending towards bullish in the medium term. Although the micro-market still appears depressed, based on the Elliott Wave structure, we are already in the final correction zone.
✅ Trading Plan:
- Rebound Scenario: If the price is able to maintain above 84.00 and impulsively breaks through the 90.00 level, this will confirm a reversal towards the 98.00-105.00 target.
- Retest Scenario: Beware of a momentary downward movement to sweep up liquidity to the 83.00 level before eventually pulling back up.
- Invalidation: This bullish view will be invalidated if SOL closes a solid H1 candle below the 81.00 level.
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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.
Related publications
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.