On the 4H and 1H charts SOL is finding support at supply/demand zones and Fibonacci levels. A break above the supply zones with volume could signal the continuation of the upside trend in the near future.
Contents
Please read the weekly and daily analysis here.
4 Hour Timeframe
- Price is currently finding support around the 0.50 Fibonacci retracement level at 108.39.
- The next support levels are the 0.382 Fib level at 110.42 and Demand Zone 1 between 105.08-99.78.
- Resistance above is found at Supply Zone 1 between 112.55-116.95 and the 0.618, 0.786, and 0.882 Fib levels above 106.37, 103.46, and 101.77 respectively.
- The Bearish Fair Value Gap between 112.55-110.48 shows prior resistance that now needs to be cleared for the uptrend to continue.
Fibonacci Retracement Levels
0.382 | 110.42 |
0.50 | 108.39 |
0.618 | 106.37 |
0.786 | 103.46 |
0.882 | 101.77 |
Supply Zone
Zone Number | High | Low |
Supply Zone #1 | 112.55 | 116.95 |
Demand Zone
Zone Number | High | Low |
Demand Zone #1 | 105.08 | 99.78 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG #1 | 112.55 | 110.48 |
1 Hour Timeframe
- Price action has tightened around the 0.50 Fib level at 108.33.
- Immediate supports are at Supply Zone 1 between 114.05-112.79 and the 0.382 Fib level at 110.42.
- Resistances are at Supply Zone 2 between 120.69-119.10 and the 0.618, 0.786, 0.882 Fib levels above 106.37, 103.46, 101.77 respectively.
- Demand Zone 1 from 105.34-104.15 and Demand Zone 2 from 103.25-101.54 provide additional longer term supports.
- The Bearish FVG from 112.87-110.70 reflects a mid-term resistance area that needs to be overcome.
Fibonacci Retracement Levels
0.382 | 110.42 |
0.50 | 108.33 |
0.618 | 106.37 |
0.786 | 103.46 |
0.882 | 101.77 |
Supply Zone
Zone Number | High | Low |
Supply Zone #1 | 114.05 | 112.79 |
Supply Zone #2 | 120.69 | 119.10 |
Demand Zone
Zone Number | High | Low |
Demand Zone #1 | 105.34 | 104.15 |
Demand Zone #2 | 103.25 | 101.54 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG #1 | 112.87 | 110.70 |