Technical Analysis of SOLUSDT (SOL)
Indicator Signals:
- MACD: The MACD line (4.8092) is below the signal line (5.0444), with a negative histogram value (-0.2352), indicating weakening bullish momentum and a potential shift toward bearish sentiment.
- RSI: The RSI is at 52.13, neutral, suggesting no overbought or oversold conditions.
- Moving Averages: The last price (147.03) is below the SMA_5 (148.036) but above the SMA_20 (143.769). It remains significantly below the SMA_200 (181.137), indicating a longer-term bearish trend despite short-term recovery.
Overall Trend Patterns and Future Projections:
- SOL is in an uptrend since April 2, 2025, with a cumulative price increase of +25.48%.
- Recent price decline and decreasing volume suggest a potential rebound, but lack strong reliability.
- Pivot levels: Current price (147.03) below Fibonacci pivot point (148.518) indicates resistance. Key support levels are S1 (142.146) and S2 (138.210), resistance levels are R1 (154.890) and R2 (158.826).
- Volume analysis: “Price down with volume down” pattern suggests rebound, but lack of strong volume confirmation weakens trend reliability.
Future Projections: If bearish momentum persists, SOL may test the S1 (142.146) support level in the short term. A rebound could occur if buying interest strengthens, targeting R1 (154.890). However, the longer-term bearish alignment of the SMA_200 suggests sustained upward momentum may face challenges.
Recommended Action:
- If you hold positions, consider holding if the price remains above S1 (142.146), but monitor for a break below this level, which could signal further downside. Tighten stop-loss orders.
- If you don’t own SOL, avoid entering due to weakening momentum and unreliable trend. Consider buying near S1 (142.146) support if there are signs of a rebound, such as increased volume and a positive MACD crossover. Set a stop-loss below S2 (138.210) to manage downside risk.
