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SOL's recent movement has been quite interesting. This afternoon, I kept an eye on the market, and it didn't experience drastic fluctuations; instead, it was consolidating cautiously. This feeling is a bit like the calm before the storm.
Currently, the price is oscillating around $124.46, with an RSI reading of 47.0. Honestly, this position isn't too strong nor too weak—somewhere between neutral and slightly weak—but it's precisely this ambiguous state that often hides opportunities.
What's most intriguing is that SOL has been range-bound between $120.73 and $128.19 for some time. This consolidation has lasted a while, and I personally lean bullish. The reasons are quite straightforward:
From the RSI perspective, 47.0 isn't high, but it's far from extreme pessimism, indicating that there's still significant room for market sentiment to change. If the price continues to gather strength within this range, a breakout isn't unlikely.
Looking at the support level at $120.73, it has been tested multiple times but has never been broken. This suggests strong buying support below, and if the price revisits this level without breaking below, the probability of a rebound will increase noticeably.
My plan is to start with small positions. The key is to watch the $126.95 level closely. If the price can break through and stabilize above it, I’ll consider adding to my position. Of course, stop-losses should be planned in advance—if the price falls below $120.73, it’s time to exit to protect capital. Preservation of capital always comes first.
Overall, this structure feels like the final preparations before a rocket launch—just a day or two of buildup. What are your thoughts on this market movement?