SOL Holds the $100 Reversal Zone: Pullback Entry Targets a Retest of $105.60

SOL 24-hour technical outlook

SOL is trading at $103.23 after recovering from the September 1 low near $98.52. The broader daily structure remains constructive: the August advance from roughly $75 to the $110.04 swing high established a higher-high/higher-low framework, and the recent correction has so far held above the important $98–$100 demand zone.

1. Trend and market structure

• Medium-term trend: Bullish. Price rose from $73–76 in mid-August to $109.21 on August 27, a strong expansion supported by substantially higher daily volume.
• Short-term correction: The pullback from $109.91 to $98.52 retraced part of the August rally, but did not invalidate the prior breakout structure.
• Current rebound: Daily closes moved from $99.99 (Sep. 1) to $100.39, $103.98, and currently about $103.23. This is a recovery sequence, although price is still below the August 27–28 supply area.
• Intraday structure: Hourly price climbed from about $101.61 to $104.31 before retracing to $103.23. The pullback is relatively orderly and remains above the prior intraday breakout area around $102.60–$102.90.

2. Support and resistance

• Immediate support: $102.60–$102.90, the hourly consolidation/breakout region.
• Secondary support: $101.70–$102.00, near the day’s early trading base and recent intraday lows.
• Major support: $100.00, a psychological level and a key daily pivot; below this, $98.50 is the critical swing low.
• Immediate resistance: $104.25–$104.60, defined by the latest hourly high and September 4 daily high.
• Upside resistance / target zone: $105.50–$106.00, near the September 3 high of $105.51 and a likely liquidity area.
• Higher resistance: $107.30, followed by $109–$110.

3. Momentum and candle interpretation

• The September 3 daily candle advanced strongly from $100.39 to $103.98, showing buyers regained control after the $98.52 low.
• September 4 produced a modest bearish retracement, but it did not break the recovery structure. September 5 has recovered toward $104.16, indicating dip demand persists.
• The $104.31 hourly rejection shows near-term supply, so entering at market after the rally is less attractive than buying a pullback into support.
• Price remains above the approximate short-term mean of the latest hourly closes, supporting a mildly bullish 24-hour bias while $102.60 holds.

4. Volume, volatility, and participation

• The August rally occurred with major volume expansion, including approximately $7.16B on August 21, $8.72B on August 22, and $7.16B on August 27. This validates the larger upside impulse.
• Volumes subsequently contracted during consolidation, which is generally consistent with a corrective pause rather than confirmed distribution.
• The latest visible hourly volume was strongest during the push to $104.26, while the retracement occurred without evidence of comparable selling pressure. Hourly volume fields are partly unavailable/zero earlier in the feed, so this should be treated as supporting—not decisive—evidence.
• Daily ranges remain elevated, meaning SOL can reasonably test both the $102.8 support area and $105+ resistance within one day.

5. Fibonacci-style retracement context

Using the major August swing from approximately $74.20 to $110.04, the 38.2% retracement is near $96.35 and the 23.6% retracement is near $101.58. SOL is trading above the shallow retracement region, suggesting the pullback has remained relatively contained. Holding above $101.6–$102.0 favors continuation toward the recent high zone.

6. 24-hour scenario assessment

Base case: bullish continuation after a shallow pullback. A retest of $102.80–$103.00 followed by sustained trading above $103.20 would position SOL to challenge $104.30. A clean break of that level opens a move toward $105.50–$106.00.

Invalidation risk: A sustained move below $102.60 would weaken the immediate bullish setup and raise the chance of a retest of $101.70 or $100.00. A break below $100 would materially damage the long thesis.

Conclusion

The higher-timeframe recovery, defense of the $100 area, intact short-term support, and contained intraday retracement favor a Buy bias for the next 24 hours. The preferred execution is not to chase the $104.30 resistance; instead, use a limit-style entry on a pullback near $102.80, targeting the September 3 resistance zone near $105.60.