Looking at the 1h chart and it has been a wild ride. We just saw a massive dip all the way down to $82.86 which honestly looked like it was going to zero for a second. But look at the recovery. We’re sitting at $87.26 now and those green candles are coming in with some decent size. It feels like the buyers were just waiting in the weeds for that sub $83 entry. The order book is split almost exactly 50/50 right now so the market is basically in a staring contest. If we can break and hold above the $88.50 level we might actually see a run back toward $90. If not we are probably just going to drift sideways while the volume dies down. I’m keeping an eye on that $85.30 area for a potential retest. If it holds it's a good sign.
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Did everyone just give up on $SOL or what?
Looking at the 1h chart and it has been a wild ride. We just saw a massive dip all the way down to $82.86 which honestly looked like it was going to zero for a second.
But look at the recovery. We’re sitting at $87.26 now and those green candles are coming in with some decent size. It feels like the buyers were just waiting in the weeds for that sub $83 entry.
The order book is split almost exactly 50/50 right now so the market is basically in a staring contest. If we can break and hold above the $88.50 level we might actually see a run back toward $90. If not we are probably just going to drift sideways while the volume dies down.
I’m keeping an eye on that $85.30 area for a potential retest. If it holds it's a good sign.
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