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 showing a weak short-term structure with momentum still bearish. Price ($85.42) is trading below the 12/26/50 EMAs (86.78/87.01/87.01), confirming a downward bias, and well below the 200 EMA ($94.04), indicating the broader trend remains bearish. RSI (41.54) is not oversold, so there is room for further downside before mean-reversion becomes compelling. MACD is negative (line -0.22 vs signal -0.08) with a negative histogram (-0.14), signaling bearish momentum and lack of a reversal trigger. Bollinger Bands show price pressing the lower band area (lower $85.58) with tight bandwidth (3.63%), often preceding continuation moves; the latest hourly candles show repeated failures to reclaim ~$87 and a breakdown toward $85. Volume is below average (0.72x), which reduces confidence in a strong bounce and supports a grind lower. Ideal stop loss for a short is $87.20 (above EMA cluster / recent rejection zone).
Key Factors
Risk Assessment
Moderate risk: Bollinger compression can trigger sharp squeezes; a reclaim of $87.2-$88.0 could force a quick reversal. ATR ($1.34) implies ~$1-2 intraday swings, so stops must allow noise.
Market Context
Bearish trend with lower highs and inability to regain the EMA cluster; near-term support is being tested around $85 with broader resistance overhead into $87-$89 and major trend resistance near the 200 EMA (~$94).