SOL
SELLConfidence 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 clear short-term downtrend with momentum still negative. Price ($96.42) is below the 12/26/50 EMAs (97.51/98.85/100.57) and far below the 200 EMA ($110), confirming bearish market structure and overhead supply. RSI(14) at 40.21 is weak (not yet oversold), leaving room for further downside before a mean-reversion bid becomes compelling. MACD remains below zero with the line slightly under the signal (-1.34 vs -1.31) and a negative histogram (-0.04), indicating bearish momentum persists rather than reversing. Bollinger Bands show price hugging the lower band (95.65) after a -6.69% 24h move; this often precedes continuation unless a strong reclaim of the mid-band ($98.05) occurs. Volume is only 0.71x of the 20-period average, suggesting the bounce attempts lack conviction. Order book imbalance (very large ask at $96.40 vs tiny bid) further pressures upside. Ideal stop loss for a short is ~$98.30 (above mid-band/EMA12 zone); take profit is near $92.80 (next support area, ~2.5x ATR).
Key Factors
Risk Assessment
Moderate-to-high risk: price is near the lower Bollinger Band, so sharp short-covering bounces are possible. Key risk is a reclaim of $98.0–$98.9 (mid-band/EMA26) triggering a squeeze toward $100.5.
Market Context
Bearish market structure with lower highs/lower lows; current price action consolidating near lower Bollinger Band after a sharp intraday selloff, with resistance stacked at $98–$101.