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 deeply oversold (RSI 14 at 24.66) after a sharp -11.57% 24h selloff, which increases the probability of a short-term mean-reversion bounce. MACD is still below zero but the histogram is positive (+0.58) with the MACD line (-3.03) above the signal (-3.61), suggesting bearish momentum is fading and a basing attempt may be forming. However, trend and structure remain bearish: price ($104.69) is below the 12/26/50/200 EMAs (105.74/108.78/112.22/120.69), indicating rallies are likely to face overhead resistance near $106–$108 (EMA12/BB mid at $107.96). Bollinger Bands show price is between the mid and lower band, consistent with downside pressure but not a clean capitulation at the lower band ($97.25). Critically, volume is extremely weak (0.11x average), so there is no confirmation that buyers are stepping in. Ideal stop loss if taking a speculative long: $96.80 (below BB lower and recent swing low zone).
Key Factors
Risk Assessment
Risk is high due to strong bearish trend, recent large drawdown, and weak volume confirmation; key risks are a breakdown toward the $97 area (BB lower) and a volatility spike (ATR ~$3.02) that can trigger stop-outs.
Market Context
Bearish trend and weak momentum overall; current action looks like a fragile consolidation/basing attempt after a sharp selloff, with resistance clustered at $106–$108 and larger resistance near $112 and $120.