SOL
BUYConfidence 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 (price $90.78 below EMA12/26/50 and far below EMA200), but conditions are now stretched and favor a tactical mean-reversion long. RSI(14) at 24.58 signals oversold exhaustion, and price is trading just above the lower Bollinger Band ($89.65), a typical area for bounce attempts. While MACD remains bearish (line -2.15 below signal -2.04; histogram -0.11), the histogram is only slightly negative, suggesting downside momentum may be waning rather than accelerating. Recent candles show heavy sell pressure into the $89–$91 zone with elevated volume (1.41x average), indicating capitulation-like activity and a potential short-term base. With ATR at $2.11, a tight risk-defined entry is possible: a stop below the recent low/support cluster near $88.80 limits downside. Upside targets align with mean reversion to the BB midline ($94.96) and EMA12 ($93.23), with the first major resistance near $95–$96.
Key Factors
Risk Assessment
Moderate-high risk: trend is bearish and price is below all key EMAs, so any long is counter-trend and can fail quickly if $89 breaks. Key risks are continuation selloff and a volatility spike; use a hard stop near $88.80.
Market Context
Bearish market structure (lower highs/lower lows) with oversold conditions near lower Bollinger support; setup is a short-term mean-reversion long within a broader downtrend.