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 ($115.97) trading below the 12/26/50 EMAs ($117.02/$117.28/$118.21) and well below the 200 EMA ($123.28), signaling a dominant downtrend. Momentum confirms weakness: MACD is negative (line -0.26 vs signal 0.03) with a negative histogram (-0.28), suggesting downside pressure persists. RSI at 38.17 is near oversold but not yet at capitulation levels, implying limited immediate reversal confirmation. Price is hugging the lower Bollinger Band (lower $115.71) after a sharp sell impulse (08:00 candle with very high volume), but follow-through volume has faded (0.61x average), reducing confidence in either a strong bounce (BUY) or a clean breakdown (SELL). With ATR at $1.05 and tight order-book spread, near-term volatility is manageable, but direction is unclear without a reclaim of the $117.5–$118.2 zone or a decisive break below $115.7 support. Ideal stop loss if long: $113.90; if short: $118.30.
Key Factors
Risk Assessment
Moderate risk: trend is bearish and a breakdown below $115.70 could accelerate losses, but RSI near oversold and low volume reduce conviction for an immediate continuation sell.
Market Context
Bearish market structure with a recent sharp sell-off and weak rebound attempt; resistance stacked at $117.45–$118.20 and major overhead resistance near the 200 EMA at $123.28.