It seems like SOL is making an effort to gain momentum, but there are still many buyers from November 2021 who are stuck.
Itโs essential to let the price absorb all the supply near the resistance level, and then look for a solid breakout above 268 with good volume on the weekly timeframe.
The chart is indicating a cup and handle formation, so the stop loss should be set at the low of the handle, which is around a strong close below 106.
I do use logarithmic charts, so the long position might look like 1:1 RR, but it's actually 1:5 RR.
Remember to do your own research before investing.