The short term outlook is neutral to bullish as long as the price holds above $97.77 support. A break above the supply zone at $112.55 could ignite another rally with resistance at $118. Pullbacks could find support at Fibonacci retracement levels. However, a break below $97.77 would turn the outlook bearish in the near term.
For a more in-depth technical analysis across different timeframes, please click the link to view the identified levels of support and resistance, trends, and reversal patterns on the weekly, daily, and 1-hour charts.
4 Hour Timeframe
Current Price Level: The current price of SOL USDT is $97, which is positioned just below the first Fibonacci retracement level of 0.382 at $97.20.
support and Resistance Levels: The price faces immediate resistance at $97.77 – $99.50 zone (Resistance Zone #1). Stronger resistance lies at $116.22 – $118.10 zone (Resistance Zone #2). Key support lies at the 0.382, 0.50, and 0.618 Fibonacci retracement levels of $97.20, $100.98, and $104.77 respectively.
Supply Zone: There is a supply zone overhead between $112.55 – $116.95 (Supply Zone #1). A break above this supply zone could push the price higher toward the resistance zones.
Fair Value Gap: There is a bearish fair value gap (FVG #1) between $110.48 – $112.55. This zone needs to be filled for the bullish momentum to continue. Failure to break above could result in prices retesting lower levels.
Fibonacci Retracement Levels
0.382 | 97.20 |
0.50 | 100.98 |
0.618 | 104.77 |
0.786 | 110.11 |
0.882 | 113.21 |
Supply Zone
Zone Number | High | Low |
Supply Zone #1 | 116.95 | 112.55 |
Suppor Resistance Zone
S/R Type | High | Low |
Resistance Zone #1 | 99.50 | 97.77 |
Resistance Zone #2 | 118.10 | 116.22 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG #1 | 112.55 | 110.48 |