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 trading at $116.3 in a short-term bearish structure, sitting below the 12/26/50/200 EMAs (117.3/117.44/118.36/123.42), which confirms overhead supply and trend resistance. Momentum is still negative: MACD line (-0.13) is below the signal (0.07) with a negative histogram (-0.2), suggesting the downswing hasn’t fully exhausted. RSI (35.02) is near oversold but not yet signaling a high-conviction reversal (no clear bullish divergence provided). Price is also hugging the lower Bollinger Band (115.78) with tight bandwidth (2.87%), implying compression after a sharp sell impulse; however, the rebound attempt lacks confirmation as volume is only 0.52x of the 20-period average. The large dump candle (to $114.03) followed by a modest bounce indicates reactive buying, but without strong volume, the risk of another leg down remains. Best action is to HOLD: wait for either a reclaim of the mid-band/EMAs (~117.5–118.4) with improving volume (BUY), or a breakdown below 115.7/114.0 (SELL). Ideal stop loss for a tactical long (if taken) would be $113.80.
Key Factors
Risk Assessment
Moderate-to-high risk: recent sharp downside move and bearish momentum increase drawdown risk; low volume reduces reliability of the bounce and raises odds of a retest of $115.8/$114.0.
Market Context
Short-term bearish market structure with a volatility spike and subsequent compression near the lower Bollinger Band; key resistance zone sits at $117.5–$118.4, while support is $115.8 then $114.0.