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 high-conviction bearish setup. Price ($119.94) is trading below the 12/26/50/200 EMAs (all clustered $122–$125), confirming a downtrend and overhead supply. Momentum is weak: RSI(14) at 39.45 is not yet oversold, leaving room for further downside before a mean-reversion bid is likely. MACD is clearly negative (line -0.31 vs signal 0.07; histogram -0.37), indicating bearish acceleration rather than stabilization. Price is also below the Bollinger lower band ($120.21), suggesting a volatility expansion to the downside; while this can precede a bounce, the move is supported by elevated volume (1.59x average), which increases the probability of continuation. Recent candles show a sharp breakdown from the $123–$124 area into $119–$120 with strong sell volume. Ideal stop loss for a short is above the broken support/EMA cluster near $122.60 (approx. 2.6 ATR above), targeting the next demand zone around $116–$117 for a >1:2 risk/reward.
Key Factors
Risk Assessment
Moderate-to-high risk: price is extended below the lower Bollinger band, so short-term snapback rallies are possible. Main risk is a quick mean-reversion reclaim of $121.5–$122.5; manage with a tight stop above $122.60 and avoid oversizing given ATR ~$1.03.
Market Context
Bearish short-term trend with a breakdown from the $123–$124 range into a lower low near $119.3; resistance stacked at $120.2 (BB lower), then $122–$123 (EMA cluster), with support forming around $119.3 then $117 and $115.