SOL
SELLConfidence Score
Signal Analysis
π― 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 trading at $82.74 in a clear bearish structure. Momentum remains negative: MACD line (-0.8) is below the signal (-0.65) with a negative histogram (-0.15), indicating downside continuation rather than a reversal. Price is also below key trend EMAs (12/26/50) and far below the 200 EMA ($91.17), reinforcing a broader downtrend and overhead resistance. RSI at 36.14 is weak (near oversold) but not showing evidence of a bullish divergence or momentum turn, so itβs not a high-conviction dip-buy. Bollinger Bands show price sitting near the lower band ($82.15) after a -4.94% daily move, which can produce bounces, but the bounce attempt is undermined by very low participation (volume ratio 0.15x). Recent candles show a sharp breakdown from the $84.9β$85.1 area to $82.7 with heavy volume, followed by weak follow-through, suggesting sellers remain in control. Ideal stop loss for a short/exit level is ~$85.30 (above EMA50 and recent swing resistance).
Key Factors
Risk Assessment
Moderate risk: RSI near oversold and price near the lower Bollinger Band can trigger sharp short-covering bounces; manage with a tight stop above $85.30 and avoid chasing if price reclaims $84.40β$85.20.
Market Context
Bearish trend with declining momentum; market structure shows lower highs and a breakdown from the $85 area toward the $82 support zone, with weak rebound participation.