SOL

SOL is in a clear bearish structure: price ($89.9) is below the 12/26/50/200 EMAs (91.2/92.64/95.13/106.27), confirming a sustained downtrend and overhead supply. Momentum remains weak with RSI 42.7 (not oversold), leaving room for further downside before mean-reversion becomes compelling. While MACD histogram has turned slightly positive (0.23), the MACD line is still negative (-1.44) and below zero, suggesting only a minor relief attempt inside a broader bearish regime. Price is pressing the lower Bollinger Band (89.44) after a sharp -6.77% 24h drop, and the last candle printed a breakdown to 88.63 with high volume (1.57x average), reinforcing distribution rather than capitulation buying. Order book is heavily ask-skewed (large ask size at 89.9), adding near-term resistance. Given bearish trend alignment and elevated downside risk, the higher-conviction play is to sell/close longs (or maintain a short bias) targeting the next support zone.