SOL Hits Major Resistance — Patience Over FOMO

12 Mei

One of the most common mistakes traders make—especially in fast-moving markets—is jumping into trades impulsively at major resistance. It feels exciting when price is surging, but ironically, this is often where risk is highest and reward is most limited.

Why? Because historical resistance zones—like the $175–$183 region on SOL—tend to attract heavy sell pressure. These are levels where many past buyers look to exit, where smart money hunts liquidity, and where false breakouts are most common. Without volume confirmation and a proper retest, breakouts through such zones often fail.

That’s why experienced traders wait. The smarter approach is to let the market come to you, and only act when one of two things happens:

1. A pullback into a well-defined, confluence-rich support zone
   
2. A clean breakout above resistance, followed by a retest and confirmation
   

SOL has respected structure beautifully, but now is not the time to chase. Either wait for a healthy correction into support, or let price prove its strength through a confirmed breakout. No trade is also a trade — and capital preservation is the foundation of long-term success.

Patience isn’t passive — it’s a strategy. Let the market come to your desired levels. You don't need to catch every move, only the high-probability trades and there aren’t born from impulse — they’re built on patience, structure, and right timing. 💎

Technical Breakdown

SOL has entered a major resistance zone between $175 and $183 — a historically significant level respected for over a year.

Within this zone lie two key highs:

• $179.85: Recently swept with a clean Swing Failure Pattern (SFP)
  
• $180.52: Still untested — if broken, it would confirm a strong bullish continuation
  

Breaking through such a well-established resistance on the first attempt is uncommon — it typically requires momentum and structure. A rejection here would suggest that SOL needs a healthy correction before mustering the strength for a true breakout.

📉 Elliott Wave Count

Looking at the structure, we’ve completed a 5-wave sequence — signaling the potential end of this impulse leg. According to Elliott Wave Theory, a corrective phase is now expected before continuation.

📐 Additional Confluence: Fib Speed Fan

The 0.618 Fib Speed Fan — drawn from the all-time high at $295.83 to the swing low at $95.26 — aligns perfectly with this resistance zone, adding more weight to the idea of a potential rejection or pause.

🟢 Long Setup: The Next High-Probability Entry Zone

We now shift our focus to where the next long opportunity could arise. Here’s the technical confluence:

• Anchored VWAP from the recent low at $141.41 sits at $164.70
  
• 4H bullish order block around $164.46
  
• 0.382 Fib retracement of the full 5-wave impulse: $165.42
  
• 0.412 Fib retracement: $164.25
  

All these levels converge in a tight band, providing a solid long entry zone between:

• Long Entry Zone: $165.50 to $164.25
  
• Stop-Loss: Below $160 (to protect against any deep wick)
  

Targets:

• TP1: $171.75 (Point of Control from the range)
  
• TP2: $180.00 (resistance retest)
  
• TP3: $200.00 (psychological level)
  
• Estimated R:R: ~6:1 — High-conviction setup
  

Bonus: If price returns to this $165 zone within 24 hours, it will also be supported by the 0.618 Speed Fan — adding one more layer of support.

🔴 Short Setup: Reversal Play at $200

For those watching from the sidelines or looking to fade the rally, the psychological level at $200 presents a strong short opportunity — but only on confirmation (e.g., SFP or bearish engulfing).

• Short Entry: On rejection at $200
  
• Stop-Loss: $206.10
  
• Target: $187.00
  
• Estimated R:R: ~2:1
  

🧠 Summary:

• Completed 5-wave structure → potential correction phase underway
  
• Strong resistance at $175–$183 with SFP and speed fan alignment
  
• High-probability long setup at $165.5–$164.25 with multi-layered confluence
  
• Potential short at $200 on confirmation
  

⚠️ Key Takeaway: Don’t Chase the Highs

This is where many traders slip — FOMOing into trades at major resistance. Please, don’t do it. Instead, wait for:

• A pullback into well-defined support (like the $165 zone), or
  
• A clean breakout above $180, followed by a confirmed retest
  

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13 Mei

Nota

Bounced off the 0.382 Fib retracement in confluence with the anchored VWAP:

13 Mei

Nota

🔄 Quick SOL Update:



SOL bounced off the 0.382 Fib retracement nicely and is now trading above $180! The chart remains strong and bullish. It’s currently testing the 0.618 Fib speed fan, and holding above key moving averages: the weekly 21 EMA/MA and the daily 233 EMA/MA. Momentum is clearly in the bulls favour.


All eyes now on that psychological $200 level — let’s see if SOL has the fuel to make the push 👀🚀

15 Mei

Nota

The 0.786 Fib retracement marks the next potential long entry — perfectly aligned with the Value Area Low (VAL), supported by the daily 10 EMA/SMA, and an anchored VWAP sitting just below for added confluence:

18 Mei

Nota

SOL just swept the low, tapped the bullish order block right at the 0.5 Fib retracement, and is now showing a strong bounce. Target remains at $200. Watch $180 closely — it needs to break above and flip it into support for continuation: