SOL – lower this time?
2024-10-03

So far SOL couldn't take our highs and almost retraced the entire September pump.

If we tap range lows it will be tap number 8, seems increasingly likely that we explore demand in our previous consolidation before possibly making a move higher.

Don't see this as a bearpost or whatever, we are just observing a months long range that's getting tapped a few too many times, which is showing us that while demand is there, supply overhang keeps pushing price back down. See it as a buying opportunity if you are bullish on this. 

A good way to chart this is just using fixed range volume profiles for every horizontal range. If we break down, you want to see that VAL provide support, meaning that previous demand zone is still demand. We can wick below or spend a few days there, no biggie as long as we break back above fast enough. 