Wrapped Solana priceSOL

$SOL price action continues to consolidate under that initial trendline resistance. The key right now is watching the B-wave pullback if it can hold above $118.85, it keeps the more optimistic (orange) scenario in play. If it loses that level, we’d likely see a deeper retrace before the next move. Eyes on that line in the sand.

$SOL open longs if it goes above 126 with good volume

❤️‍🔥❤️‍🔥ETF FLOWS: BTC, ETH, SOL and XRP spot ETFs saw net inflows on Jan. 26. BTC: $6.84M ETH: $116.99M SOL: $2.46M XRP: $7.76M

$SOL SOL/USDT Technical Analysis & Double Purge Trade Plan Current Price: 123.72 USDT | Trend: Bearish but Oversold 📉 Market Structure & Key Levels · Higher Timeframe Bias: Downtrend intact (Lower Highs & Lower Lows) · Last Swing High: ~156.18 (Jan 2026) · Recent Swing Low: ~116.91 (Current consolidation low) · Immediate Resistance: 125.61 (24h high) → 134.44 (BOLL midline) · Immediate Support: 123.05 (24h low) → 118.25 (BOLL Lower Band) → 116.91 (Critical) 🔍 K-line & Candlestick Analysis · Recent Pinbar/Rejection Visible: The candle near 116.91 shows a long lower wick, signaling buying interest at that level. · Consolidation Phase: Price is compressing between 123–125, suggesting indecision before the next directional move. · Pattern Psychology: Sellers are exhausted near 116–118; a double purge setup is forming if we revisit that zone and hold. 📊 Indicator Insights · BOLL (20,2): Price is trading below the midline (134.44), bearish squeeze in play. Lower Band at 118.25 is key support. · RSI: All periods (6,12,24) are below 50 but above 30 → Oversold but not extreme. RSI(6) at 36.33 hints at short-term momentum loss. · Volume: Moderate 24h turnover (~$49M) – no panic selling, but also no strong accumulation yet. ⚔️ Double Purge Theory Context A Double Purge occurs when price tests a key support level twice, shaking out weak hands before reversing. On Chart: 1. First Purge: ~116.91 (late Dec/early Jan) – initial flush. 2. Potential Second Purge: If price revisits 118.25–116.91 and holds with a bullish reversal candle, that’s the double purge confirmation. Why It Fits Here: · Market is in a downtrend but oversold. · Strong support confluence: BOLL LB + previous swing low. · A second test of 116.91 that holds would trap late shorts and fuel a relief rally toward 134–150. 🎯 Trade Plan Using Double Purge Theory Scenario 1: Bullish Reversal Setup (Double Purge Confirmation) · Entry Zone: 118.25 – 117.00 · Trigger: Bullish pinbar or 15m close above 120.00 after a dip into the zone. · Stop Loss: 115.50 (below the purge low) · Targets: · T1: 125.61 (24h high) · T2: 134.44 (BOLL midline) · T3: 148.05 (previous resistance) · RRR: 1:3+ · Catchline: “Second flush, then rush.” Scenario 2: Break of Purge Low (Bearish Continuation) · Trigger: 15m close below 116.50 · Entry: Short on retest of 118–119 · Stop Loss: 120.50 · Target: 110.00 (psychological level) → 102.00 (next HTF support) · Catchline: “Purge failed, bears prevailed.” 📅 Watchlist & Catalyst · Key Date: Jan 22–27 consolidation resolution. · Confirmation Needed: Volume spike on the purge + RSI bullish divergence. · Invalidation: Daily close above 134.44 negates double purge (trend shift possible). 💎 Trader’s Mindset “Trade the purge, not the panic. The second test tells the real story.” Risk Management: Never risk >2% per trade. Adjust position size to volatility (currently medium-high). Final Note: Wait for price to respect the 118.25–116.91 zone with a reaction candle before committing. If it slides through without a fight, abandon the long bias. Stay liquid, stay disciplined. Trade the chart, not the hope.$SOL