$SOL Daily Candle UPDATE:
honestly, i love trading and charts. fits my love for pattern recognition and puzzles all at the same time. and i could write an entire X article on this last daily candle, but i'll try to just give some points on why this was one of the most incredible daily candles in solana history.
1. market makers and whales know EXACTLY what they are doing. this structure has been in place for years with the long red support line getting touches along the way. the daily has to confirm below what i was saying was $106, but we need to be precise and it was more like $105.65. it went through the support and the body closed at $105.45.
2. okay. so, that's a confirmation close below the trendline, right? well, yeah...but are you going to drop a short when the candle wicks down to $96 and then climbs all the way back up to close right on the line it broke through? i mean, good luck. it could very well work out for you...buuuut it might just be a retest of the trendline before breaking down again or it might take off and be one of the biggest fakeouts in solana history.
3. i included the 4hr and 1hr candle charts to show just how precise the whole thing was. look at that hourly chart and you'll see even it had indecision before closing pennies below.
4. what it does is create delay for traders and market makers know that. they know the good traders with a lot of money wait for confirmation closes below key targets. if you are one of those traders what do you do now? do you wait for the next 24hrs to go by to see how the next candle closes? well, you might miss out on the retest and breakdown to lower levels if you wanted to short, but need to wait for your confirmation. looking to long? well, the pump might happen while you wait for confirmation and you have the whoooole candle to wait through.
5. sure, you might just fomo in when you see the movement in one clear direction or the other, but what if we see what just happened and the price reverses on you and runs right back in the opposite direction in the last couple hours of the candle?
i'm staying out of this one for now. if i had to guess though i would say that this structure wasn't around for over 2 years for no reason. this is so important because it truly could signal a long period of resetting everything for the next cycle.
this last daily candle though edges us just a bit longer that maybe there is still hope that we aren't done going up in 2026 just yet.