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 bearish market structure with price ($102.22) below the EMA26 ($103.88), EMA50 ($106.96), and well below EMA200 ($117.38), indicating the broader trend remains down. However, short-term downside momentum is easing: RSI(14) at 44 is weak but not oversold, and MACD shows a bullish inflection (line -1.66 above signal -1.80; positive histogram 0.14), suggesting a potential short-term relief bounce rather than a confirmed reversal. Price is also trading near the Bollinger middle band ($103.22) after tagging the lower band area ($99.91) recently, which often acts as mean-reversion territory. Volume is slightly below average (0.9x), so the bounce lacks strong participation, reducing conviction for a BUY. Key resistance sits at $103.2–$106.5 (mid/upper band and EMA50 zone); support is $99.9 then $97.9 (recent low). Ideal stop-loss for any tactical long attempt would be below $97.80, but given trend alignment, waiting for a reclaim of $106.5 with volume is safer.
Key Factors
Risk Assessment
Moderate risk. Downtrend increases drawdown risk if $99.9 breaks; volatility is manageable (ATR $2.28) but a support failure could accelerate toward $97.9 and below. Lack of strong volume confirmation raises false-bounce risk.
Market Context
Overall bearish structure with lower highs implied by EMA stack (12 < 26 < 50 < 200). Near-term momentum is stabilizing, suggesting consolidation/relief-bounce potential inside a broader downtrend.