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 bearish regime: price ($77.84) is below the 12/26/50 EMAs ($80.13/$80.54/$81.35) and far below the 200 EMA ($87.44), confirming a downtrend and overhead supply. Momentum is negative with MACD line (-0.41) below signal (-0.05) and a bearish histogram (-0.35), suggesting downside continuation rather than a basing turn. RSI(14) at 33.55 is near oversold, but not showing evidence of a reversal; oversold can persist in strong downtrends. Price has also pushed beneath the lower Bollinger Band ($78.23) after a sharp breakdown candle (16:00) on very strong volume (2.03x average), indicating distribution and a likely “sell the bounce” environment. With ATR at $1.03, near-term volatility supports a move toward the next support zone around $75–$74. Ideal stop loss for a short is above reclaimed support/mean reversion near $80.50 (around EMA cluster/mid-band).
Key Factors
Risk Assessment
Moderate-to-high risk: RSI near oversold increases snapback/bounce risk, but trend and volume favor downside. Key risk is a short squeeze if price reclaims $80–$81 on strong buy volume.
Market Context
Bearish market structure with accelerating downside momentum; recent high-volume selloff suggests sellers in control and rallies likely to face resistance near $80–$82.