Solana Price Faces Crucial Test at $118.89 Ahead of Potential Move to $124.13

Solana's price action on Tuesday has set up an intriguing technical scenario. After dipping below $117.26, the cryptocurrency rebounded above Monday's low, creating a potential liquidity grab rather than a breakdown.

According to the chart provided by TradingView, Tuesday's move created key liquidity at the $116.45 order block before the price recovered. This sequence represents a potential sell-side liquidity sweep rather than sustained acceptance below the previous range.

The chart places the CISD (Confirmation) trigger at approximately $118.89. Holding this level would provide confirmation of the setup, while a close inside Monday's range and continued acceptance above $118.89 would strengthen the recovery and confirm that buyers are maintaining control.

Monday's $122.93 high is the first major upside draw, representing an advance of approximately 3.2% from Tuesday's price action. If the recovery continues, this level will be crucial in determining Solana's next move.