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 clear short-term bearish setup. Price ($120.05) is trading below the full EMA stack (12/26/50 near $122.4–$122.8 and EMA200 at $124.85), confirming a downtrend and overhead resistance. Momentum remains negative: RSI(14) at 37.39 is weak (not yet oversold), leaving room for further downside before a mean-reversion bid becomes likely. MACD is bearish (line -0.12 below signal 0.09; histogram -0.21), indicating accelerating downside momentum rather than a bottoming turn. Price is also below the Bollinger lower band ($120.66), which can signal extension; however, the breakdown occurred on strong volume (3.73x average), suggesting this is not a low-liquidity wick but a conviction move. Recent candles show a sharp selloff from ~$123.25 to ~$120.03 with elevated volume, implying sellers are in control. Ideal stop loss for a short is above the broken support/mean-reversion zone near $122.60.
Key Factors
Risk Assessment
Moderate risk: price is slightly outside the lower Bollinger band, increasing snapback/short-squeeze risk. Key risk is a rebound reclaiming $122.5–$123.0 (EMA cluster). Use a tight invalidation above ~$122.60 and size for ATR (~$1.01).
Market Context
Short-term trend is bearish with momentum accelerating lower; price action shows a breakdown from the $122–$123 area and rejection beneath the EMA cluster, suggesting continuation toward the next demand zone near $118–$116 unless quickly reclaimed.