🔍 Technical Structure:
Short-Term Trend:
SOL is currently in an uptrend, with local higher lows. This is evident from the orange uptrend line, which has been tested multiple times.
Local Resistance:
205.14 USDT – yellow line – a resistance level that the price has touched several times but failed to break (this could be a double-top formation).
Local Support:
198.48 USDT – the price is currently testing this level as support.
194.36 USDT – lower, more crucial support (stronger upon a trend breakout).
187.74 USDT – important support that would be tested in the event of a larger breakout.
📉 Oscillator – Stoch RSI:
The Stoch RSI is currently in oversold territory (below 20), suggesting the possibility of a local rebound.
However, there has been no upward crossover yet, so there is no strong buy signal.
🔊 Volume:
We are observing a decrease in volume during the current correction, suggesting that the declines are relatively weak – there is no strong supply impulse.
🧠 Short-term scenarios:
✅ Bullish scenario:
Price is rebounding from the trend line (orange) and the 198.48 USDT level.
A break of the 205.14 USDT resistance could open the way to:
209.37 USDT
216.02 USDT (next target)
❌ Bearish scenario:
A break of the trend line and the 198.48 USDT level with the 1-hour candle closing below.
Possible decline to:
194.36 USDT (first support)
and further to 187.74 USDT if selling pressure increases.
Short-Term Trend:
SOL is currently in an uptrend, with local higher lows. This is evident from the orange uptrend line, which has been tested multiple times.
Local Resistance:
205.14 USDT – yellow line – a resistance level that the price has touched several times but failed to break (this could be a double-top formation).
Local Support:
198.48 USDT – the price is currently testing this level as support.
194.36 USDT – lower, more crucial support (stronger upon a trend breakout).
187.74 USDT – important support that would be tested in the event of a larger breakout.
📉 Oscillator – Stoch RSI:
The Stoch RSI is currently in oversold territory (below 20), suggesting the possibility of a local rebound.
However, there has been no upward crossover yet, so there is no strong buy signal.
🔊 Volume:
We are observing a decrease in volume during the current correction, suggesting that the declines are relatively weak – there is no strong supply impulse.
🧠 Short-term scenarios:
✅ Bullish scenario:
Price is rebounding from the trend line (orange) and the 198.48 USDT level.
A break of the 205.14 USDT resistance could open the way to:
209.37 USDT
216.02 USDT (next target)
❌ Bearish scenario:
A break of the trend line and the 198.48 USDT level with the 1-hour candle closing below.
Possible decline to:
194.36 USDT (first support)
and further to 187.74 USDT if selling pressure increases.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.