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 ($119.58) is trading below all key EMAs (12/26/50/200 clustered around $122–$124.8), confirming a downtrend and overhead resistance. Momentum is weak: RSI(14) at 37.67 is not yet oversold enough to justify a mean-reversion long, while MACD remains decisively negative (line -0.33 vs signal 0.06; histogram -0.40), implying bearish momentum is still accelerating. Price has also broken below the Bollinger lower band ($120.11) with a sharp sell candle from ~$121.84 to ~$120.03 and follow-through to $119.57, suggesting a volatility expansion to the downside rather than a stable range. Volume is only slightly above average (1.05x), indicating selling pressure is steady but not capitulatory—often consistent with continued grind lower. With ATR ~$1.01, a realistic downside move of 2–3 ATR targets the $117–$116 zone. Ideal stop loss for a short: $121.10 (back above the lower band/near-term breakdown level).
Key Factors
Risk Assessment
Moderate risk: RSI is nearing oversold, so short squeezes/bounces are possible. Main risks are a quick mean-reversion back to $121–$122 and broader market reversal; keep a tight stop above $121.10.
Market Context
Bearish short-term trend with momentum deterioration; price has broken below the recent $120 support and is trading in a lower-low sequence beneath clustered moving-average resistance ($122–$125).