SOLANA – Key Support Retest, Watching HTF Structure Closely

SOL is interacting with one of the most important HTF zones on the chart — the multi-year support level that has repeatedly defined trend transitions. This zone has served as structural support during expansion phases, a breakout base during the run toward all-time highs, and later as a liquidity pool during corrective cycles. Every major deviation from this line has led to a significant move in the opposite direction, making this retest highly meaningful.

Earlier in the chart, support broke and produced a full liquidity sweep, clearing long-position stop clusters before price reclaimed the level and initiated a multi-month advance. The presence of an order block just above this zone adds additional structure: it acted as a redistribution area during the breakdown, and later as the origin of re-accumulation. The recent taps into this region suggest the market is again probing for resting liquidity and responsive buy orders.

Price is now compressing between HTF support and declining 50/100 EMAs, creating a classic higher-timeframe squeeze. EMAs continue to slope downward, signaling a bearish macro trend, but candles remain supported at the long-term horizontal level. This type of compression typically resolves with a decisive expansion once liquidity is absorbed from one side.

The FVG Reaction Zone earlier in the trend shows how SOL tends to return to inefficiencies before choosing direction. The current circled region may represent the same behavior on a larger scale — an attempt to rebalance price before either reclaiming the EMAs or continuing displacement lower.

Momentum indicators add another layer: Stoch RSI is turning upward from deeply oversold territory, suggesting momentum exhaustion on the downside but not yet confirming a trend reversal. Historically on this timeframe, these rotations have preceded multi-week expansions when aligned with structural reclaim, but have also failed when EMAs continued to reject price.

Overall, SOL is positioned at a pivotal HTF decision point:

Hold support → potential base formation and EMA reclaim attempts

Lose support → opens the door to a fresh liquidity sweep into prior structural lows

Until a break in structure or EMA reclaim occurs, this remains a compression zone with elevated importance for trend continuation or reversal.