SOL
SELLConfidence Score
Signal Analysis
🎯 Take Profit Target
This is the primary price target for executing your trade. Place your take profit order at this level for optimal risk/reward based on current technical analysis.
Price Forecasts
Detailed Reasoning
SOL at $121.93 is showing a bearish-to-weak bounce within a broader downtrend. Momentum is stretched: RSI(14) at 74 signals overbought conditions after a rebound, increasing odds of mean reversion. Trend structure remains bearish with price below the EMA26 ($122.73), EMA50 ($124.10), and well below EMA200 ($129.35); this EMA stack overhead acts as layered resistance. MACD is still below zero (Line -0.72), implying the larger momentum regime is bearish, even though the positive histogram (+0.54) suggests the bounce is losing steam rather than starting a durable reversal. Price is also pressing the upper half of the Bollinger Bands (mid $121.5, upper $125.95), leaving limited upside before resistance. Crucially, volume is very weak (0.18x of the 20-period average), so the move lacks confirmation and is vulnerable to a pullback. Ideal stop loss for a short: $126.20 (above BB upper/resistance).
Key Factors
Risk Assessment
Moderate risk: tight spread/liquidity is good, but ATR ($1.33) and overbought conditions can cause sharp whipsaws; a breakout above $126 could squeeze shorts. Use defined stop.
Market Context
Bearish market structure with a short-term relief bounce; resistance clustered $122.7-$124.1 and major resistance near $129.3 (EMA200).