SOL just reached a new high and then got hit with a brutal washout—almost all of the day's gains were wiped out. This pattern is all too familiar—most retail traders chasing the highs end up getting liquidated, and contract traders are too scared to chase anymore.
From a technical perspective, SOL's resistance at $142.2 looks even more formidable than Bitcoin's resistance at $93,600. Bitcoin stalled before $95,000 and couldn't push higher, and once that resistance was broken, it immediately reversed into a washout. Coincidentally, SOL followed the exact same rhythm—resistance broke and then it crashed hard. An hour of pumping followed by two hours of giving it all back, essentially evaporating the entire day's gains.
The question now is: when will SOL break through the next resistance level after this washout? Can it successfully break through the $150 mark? The market still needs to provide the answer.
SOL just reached a new high and then got hit with a brutal washout—almost all of the day's gains were wiped out. This pattern is all too familiar—most retail traders chasing the highs end up getting liquidated, and contract traders are too scared to chase anymore.
From a technical perspective, SOL's resistance at $142.2 looks even more formidable than Bitcoin's resistance at $93,600. Bitcoin stalled before $95,000 and couldn't push higher, and once that resistance was broken, it immediately reversed into a washout. Coincidentally, SOL followed the exact same rhythm—resistance broke and then it crashed hard. An hour of pumping followed by two hours of giving it all back, essentially evaporating the entire day's gains.
The question now is: when will SOL break through the next resistance level after this washout? Can it successfully break through the $150 mark? The market still needs to provide the answer.