Technical analysis by Rogcrypto about Symbol SOL: Buy recommendation (4/10/2025)

🔍 Overall Market StructureThe price recently saw a sharp drop from the $120.69 high and is currently consolidating around the $108–110 area.A bullish structure is forming, suggested by the potential for a reversal pattern from a support zone.🧠 Key Technical Components📉 Fibonacci Levels (retracement from $101.21 to $120.69):0.236 – $115.78 (resistance)0.382 – $112.840.5 – $110.530.618 – $108.25 ← Current support0.786 – $105.20Price is bouncing from the 0.618 zone, a strong reversal area.🟣 RSI (Relative Strength Index):RSI is near oversold (31.15) and showing bullish divergence:Price made lower lows.RSI made higher lows.This divergence suggests momentum is weakening on the downside, signaling a potential bullish reversal.🟪 Support & Resistance Zones:Demand Zone (support) around $107–108 (marked with purple box).Supply Zone (resistance) around $118–120.Price could bounce from support, targeting higher fib levels and possibly retesting the supply zone.✏️ Projected Price Action (Black Curve):Anticipated short-term reversal from $108.Price might climb through:$110 (0.5 fib)$112.84 (0.382 fib)Potentially to $115.78 (0.236 fib) or even back to the $120.69 high.Shown within a larger wedge structure, so upper trendline resistance around $120.✅ Conclusion:Bullish reversal likely from $107–108 support.RSI divergence + Fibonacci confluence supports the reversal thesis.Next targets: $110.50 → $112.84 → $115.78 with final resistance near $120.69.