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 showing a high-probability mean-reversion setup after a sharp selloff. RSI(14) at 27.26 is deeply oversold, typically signaling seller exhaustion and increased odds of a bounce. Price ($121.42) is hugging the lower Bollinger Band ($120.60) with tight bandwidth (3.73%), suggesting compressed volatility where rebounds toward the mid-band ($122.90) are common. While trend and EMAs are bearish (price below EMA12/26/50/200), the downside momentum is moderating intraday: after printing lows near $120.55, candles stabilized and closed back above the low with normal-to-slightly elevated volume (1.08x), indicating demand appearing near support. MACD remains bearish (histogram -0.18) but the setup is attractive for a short-term long scalp/mean reversion with defined risk: support sits around $120.55–$120.60 and ATR is low ($0.99), enabling a tight stop. Ideal stop loss: $119.80 (below lower band/support and ~1.6 ATR).
Key Factors
Risk Assessment
Moderate risk: broader structure is bearish (below all key EMAs) and MACD is still negative, so any long is counter-trend and could fail if $120.55 breaks; watch for a flush toward ~$118–$119 on increased sell volume.
Market Context
Short-term bearish market structure with price below EMA12/26/50/200, but conditions are stretched/oversold at lower-band support, favoring a tactical bounce rather than a trend reversal.