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Summary
• Price tested and rebounded off 124.0–124.2 support with bullish engulfing patterns.
• Momentum shifted upward with RSI above 50 and MACD turning positive.
• Volume and turnover surged above 17 million and $2.2 billion, confirming bullish bias.
• Bollinger Bands expanded, indicating increased volatility and possible breakout.
At 12:00 ET–1, Solana/Tether (SOLUSDT) opened at 124.74, reached a high of 125.03, and closed at 124.44 by 12:00 ET. Total volume hit 216,609.64, and notional turnover reached $26.96 million.
Structure & Moving Averages
Price formed a bullish engulfing pattern around 124.0–124.2, followed by a rebound and rally. The 20-period and 50-period moving averages on the 5-minute chart are both rising, confirming an uptrend. On the daily chart, price remains above the 50-period MA, indicating intermediate-term strength.
Momentum & Indicators
RSI moved above 50, signaling strengthening momentum with no overbought conditions yet. MACD turned positive and expanded, supporting a potential continuation. Price appears to have cleared the 124.4–124.7 consolidation zone, suggesting renewed buying pressure.

Volatility & Volume
Bollinger Bands widened throughout the day, with price hovering near the upper band in the afternoon. Volume spiked above 30k in the 15:15–16:00 ET window, matching a strong price move toward 125.03. Turnover and price moved in sync, confirming the bullish bias.
Fibonacci & Key Levels
Price bounced off the 61.8% retracement level (124.2–124.4) and pushed higher. The 38.2% retracement at 124.7–124.8 appears to be a short-term resistance. A break above 124.85 could target 125.1–125.3 on a 5-minute basis.
Looking ahead, the next 24 hours could see a test of 125.0–125.1, with a potential pullback into 124.6–124.8. A failure to hold above 124.4 could signal a return to consolidation. Investors should watch for a sustained move above 125.0 as confirmation of a broader breakout.
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