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 short-term bounce into resistance, but the broader setup remains bearish and stretched. RSI at 71.5 signals overbought conditions after a sharp -5.59% 24h drop, which often precedes mean reversion rather than trend continuation. Price ($134.67) is tagging the upper Bollinger Band ($134.63) with very tight bandwidth (1.19%), suggesting a volatility squeeze that can resolve sharply; given the prevailing bearish trend and price below key EMAs (EMA26 135.62, EMA50 137.75, EMA200 140.30), downside resolution is more likely. MACD histogram is positive (0.5) and the MACD line is above the signal (bullish momentum attempt), but both remain negative, implying this is a counter-trend rebound within a larger down-move. Order book is heavily ask-skewed (very large ask size at $134.67), reinforcing overhead supply. Volume is below average (0.72x), weakening the breakout case. Ideal stop loss for a short is $135.35 (above the recent $135.12 high and upper band zone).
Key Factors
Risk Assessment
Moderate risk: tight Bollinger bandwidth can cause abrupt whipsaws; MACD improving raises squeeze risk. Keep stop tight above 135.35 and size conservatively due to low ATR but potential breakout from compression.
Market Context
Bearish-to-neutral intraday rebound within a broader downtrend; current move looks like a relief rally into resistance (134.6–135.6) rather than a confirmed reversal.