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 ($116.07) trading below the EMA12/26/50 cluster (117.11–118.27) and well below the EMA200 ($123.35), keeping the broader trend down. Momentum confirms: MACD is negative (line -0.22 vs signal 0.05) with a negative histogram (-0.27), suggesting downside pressure remains. RSI at 41.65 is weak but not oversold, so there is no high-conviction mean-reversion BUY yet. Price is also sitting near the lower Bollinger Band ($115.73) after a sharp sell candle (08:00 low $114.03) followed by a modest rebound, implying support is forming around $114–$116; however, the rebound lacks participation (volume ratio 0.08x), reducing confidence in a sustained reversal. With ATR ~$1.04 and tight bands (2.94%), the market may consolidate; the higher-probability play is to wait for either a reclaim above $117.5–$118.3 (bullish) or a breakdown below ~$114 (bearish continuation) before acting. Ideal stop loss (if currently long): $113.80.
Key Factors
Risk Assessment
Moderate risk: downside continuation remains likely if $115.7/$114 support fails; low liquidity/volume increases whipsaw risk near the lower Bollinger Band.
Market Context
Short-term downtrend with a sharp impulsive sell-off into lower Bollinger support, followed by a weak-volume bounce and potential consolidation under key moving averages.