SOL
HOLDConfidence 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 structure with price ($116.35) trading below the 12/26/50 EMAs and well below the 200 EMA ($123.42), indicating a broader downtrend. Momentum remains negative: RSI 36.22 is weak (near oversold but not capitulation), and MACD is bearish (line -0.12 below signal 0.07; histogram -0.19), suggesting downside pressure hasn’t fully reset. Price is also hugging the lower Bollinger Band (lower $115.81) after a sharp impulse sell-off to $114.03, which can trigger a mean-reversion bounce, but confirmation is lacking. The rebound candle to $116.37 occurred on low participation (volume ratio 0.45x), reducing conviction for a BUY. With ATR ~$1.14 and tight bands (2.84% bandwidth), volatility is moderate and a range is likely between ~$115.8 support and ~$117.5–$118.4 resistance (mid-band/EMAs). Best action is to hold/stand aside until either a reclaim of $118.4 with improving volume (bullish) or a breakdown below $115.8 (bearish continuation). Ideal stop loss for a long (if taken) would be ~$114.80.
Key Factors
Risk Assessment
Moderate-to-high risk: trend is bearish and support at ~$115.8 is being tested; a clean break could accelerate losses toward ~$114 and below. Upside attempts face stacked resistance at $117.5–$118.4 with weak volume.
Market Context
Short-term bearish market structure after a sharp intraday sell-off; currently attempting a minor bounce within a tight volatility envelope, but still below key moving averages and long-term trend (200 EMA) remains down.