SOL Daily Analysis — Double Rejection at $110: 94 or 118, Momentum Hangs on 102

Solana ripped from $74.10 to $110.60 in ten sessions — a 48% impulse that made it the strongest mover of the top dozen coins in August. Then it hit $110 twice and stopped: $110.60 on August 27, $110.00 on August 28, both rejected. The pullback low printed at $102.28, and SOL is now consolidating at $105.23, squeezed between the $110 supply zone and a rising support line that has caught every dip since August 22.

Reading the twin rejection

The two wicks at $110 — 110.60 on August 27 (candle 116) and 110.00 on August 28 (candle 117) — form a double rejection that reads as a double top in the making. The neckline is the $102.28 pullback low, which sits almost exactly on the 23.6% retracement of the whole 74.10-to-110.60 leg (102.0). Below it, the market has a three-touch shelf at $93-95 where the impulse began to accelerate.

The support story is just as clean: the rising low line touches 87.72 on August 22, 95.32 on August 25, and 102.28 on August 28 — three touches, a real trendline. As long as it holds, the pullback stays buyable; a close below 102 breaks both the line and the 23.6% retracement at once.

Bull case: momentum resumes

The bull scenario needs a reclaim of $108 and then a daily close above $110.60 — that cancels the double top, turns it into a pause inside the impulse, and opens the measured extension around $118-120 (pattern height of 8.3 projected above the breakout). Invalidation: a daily close below $102.28. Momentum is on the bull side here — SOL is up 44.7% on the month with the strongest seven-day change in the top 12 — but the $110 zone has to break, not just touch.

Bear case: the top in progress

The bear scenario plays the sweep: a dip that takes out $102.28, stops out the late longs, and then a real move into the $94-96 zone where the measured move of the double top (102.3 minus 8.3) lands on the 38.2% retracement at $96.7. Below that, the 50% line at $92.3 is the next milestone. First confirmation: a daily close below $102.28 — the double top only becomes real once that closes.

The invalidation lines

BULL dies on a daily close below $102.28. BEAR dies on a daily close above $110.60. In between, expect the squeeze that usually precedes a resolution: wicks under 102, failed pushes at 108, none of it meaningful until one side closes. The rising low line is the bull's spine — every dip since August 22 has bought it.

Solana has momentum; it just has a ceiling. The coin that closes this range first — above 110 or below 102 — gets the next leg.

This is technical analysis, not financial advice.