What's up traders! 👋
Solana EXPLODED +8.5% to $92 today! RSI crossed 50 (first time this year = bullish momentum), $650B stablecoin volume record (Feb), Backpack IPO tokenization on Solana, Morgan Stanley Bitcoin Trust names Coinbase custodian, Trump supports CLARITY Act. Testing resistance $94-$96. Two scenarios: pullback to FVG $87-$90 then continuation to $100 OR direct breakout to $96-$100. Beta-driven rally with BTC +7.65%.
The Setup
SOL at $92 after INSANE +8.5% spike. RSI crossed 50 (bullish momentum). Testing resistance $94-$96 (red zone). FVG zones: Upper $88-$90, Lower $87-$89 (gray). Support $81-$83 (green). Two scenarios: pullback to FVG $87-$90 consolidation then push to $100 OR direct breakout through $96 to $100.
Key Levels
Resistance: $94-$96 (critical), $100 (psychological), $115 (major)
Support: $91.56 (38.2% Fib / must hold), $88-$90 (upper FVG), $87-$89 (lower FVG), $85 (pivot), $81-$83 (demand), $80 (line in sand)
News - March 4, 2026 (BULLISH DOMINANT)
BULLISH (DOMINANT):
• SOL +8.5% to $92.34. BTC +7.65% to $73K. Crypto market +6.6% (beta-driven rally)
• RSI CROSSED 50 (first time 2026 = bullish momentum strengthening)
• $650B STABLECOIN VOLUME (Feb record, doubled Oct). Highest of ANY blockchain
• Grayscale: SOL leads in users, transaction volume, fees. Shift from memecoins to payments
• BACKPACK IPO TOKENIZATION: Pre-IPO share access on Solana (Superstate partnership)
• Morgan Stanley Bitcoin Trust: Coinbase + BNY custodians (institutional validation)
• Trump supports CLARITY Act (called it "GENIUS"). Crypto sentiment dramatically improved
• Kraken Fed Master Account access. Clear Street: "Inflection point, bull run beginning"
• Coinbase +14.5%, Riot +8.1% (crypto stocks surging)
• Technical: Broke above $91.56 (38.2% Fib), volume +47%
• Social sentiment: Net bullish 5.08/10. DriftProtocol: "Bullish on Solana"
• Limited supply pressure until $95-$96 (path clear if hold $90-$92)
BEARISH/RISK:
• Just hit resistance $94-$96 (may need pullback)
• Descending triangle pattern suggests breakdown below $80 possible
• Head-and-shoulders pattern (bearish reversal signal)
• Down -54.54% (6M), -26.11% (YTD), -35.28% (1Y)
• $80 support critical (break = bearish)
• May consolidate before next leg up
Two Scenarios
PULLBACK THEN CONTINUATION: Reject $94-$96 → Pullback to FVG $87-$90 → Consolidate → Break $96 → Target $100-$115. Triggers: Profit-taking after 8.5% spike, healthy consolidation, then resume with BTC rally, stablecoin volume growth, institutional adoption.
DIRECT BREAKOUT: Break $96 with volume → Target $100 → $115. Triggers: BTC continues to $75K+, CLARITY Act passes, Morgan Stanley ETF launches, Backpack IPO momentum, stablecoin volume accelerates, RSI stays >50.
My Take
BULLISH (pullback then up, direct breakout). SOL EXPLODED +8.5% on beta-driven rally (BTC +7.65%). RSI crossed 50 (first time 2026 = bullish momentum). $650B stablecoin volume record = REAL utility. Backpack IPO tokenization + Morgan Stanley custodian = institutional validation. Trump CLARITY Act support = sentiment shift. Testing $94-$96 resistance after spike. Likely pullback to FVG $87-$90 for consolidation (healthy), then push to $100. If breaks $96 directly, target $100-$115. Key: Hold $91.56 support. Break below $88 = retest $85.
What do you think? Pullback or direct breakout? Drop your take! 👇
🚀 Boost if this helped!
Not financial advice. DYOR.
The Institutional Grade Trading Ecosystem, Built to win trades 📈
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
The Institutional Grade Trading Ecosystem, Built to win trades 📈
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.