SOL
BUYConfidence 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 is in a short-term bearish trend, but the setup is now heavily mean-reversion biased. RSI(14) at 19.7 signals extreme oversold conditions, often preceding sharp relief bounces when selling pressure becomes exhausted. Price ($122.54) is hugging the lower Bollinger Band ($121.71) with tight bandwidth (4.04%), suggesting volatility compression after a drop—conditions that can fuel a rebound if price reclaims the mid-band/nearby EMAs. Momentum is still negative (MACD line -0.87 below signal -0.78; histogram -0.08), so this is a tactical oversold long rather than a trend-following entry. Volume is the key confirmation: the latest candle shows 1.79x average volume, consistent with capitulation-like selling that can mark a local bottom. For risk control, a long is only justified with a tight stop below the recent low/BB break area. Ideal stop loss: $120.90. Primary take profit targets the first meaningful resistance cluster at the mid-band/EMAs zone.
Key Factors
Risk Assessment
Moderate-to-high risk: trend and MACD remain bearish, so the trade can fail if support at ~$121 breaks. Key risks are continuation selling and a clean breakdown below the lower band/nearby lows; keep position size conservative and honor the stop.
Market Context
Short-term bearish market structure with price below EMA12/26/50/200, but conditions are stretched and consistent with a potential relief rally back toward the $124-$126 resistance area.