SOLUSD Ready for Pullback? Supply Zone Rejected Again!

SOLUSD is currently trading around $171.91, testing a key supply zone marked by repeated rejections around $173.44. This area has acted as a strong resistance, and the recent wick rejection suggests potential exhaustion from buyers.

Key levels to watch:

Supply Zone: $171.50 – $173.50 (rejection zone)

Mid Support: $159.25 (potential bounce or consolidation zone)

Demand Zone: $140.50 – $145.50 (high-interest buy zone)


Bearish signs:

Price failed to close above supply range

Strong upper wick suggesting selling pressure

Momentum slowing as shown by recent candle formations


Potential Strategy:

Short from $172.50 with SL at $174.00

TP1: $159.50

TP2: $145.50 (demand re-entry zone)


Watch for a confirmed break of $159.25 with volume for stronger conviction.
This could be a short-term pullback in an overall bullish trend—trade carefully.


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#SOLUSD #Solana #CryptoTrading #SupplyAndDemand #TechnicalAnalysis #PriceAction #TradingStrategy #BearishSignal #LuxAlgo #Crypto