$SOL took a nosedive to $153.89, down about 4%, after reaching $161 earlier. The chart basically looks like a red carpet for bears right now. Both short-term moving averages got smoked, which screams short-term panic selling.
The Bollinger Bands are stretched wider than a Monday morning smile, and SOL is hugging the lower band like it’s its last friend. That usually means the market’s out of breath, and a rebound might sneak up soon.
RSI just fell to 7.6, yeah, that’s not just oversold, that’s “someone call an ambulance” oversold. KDJ indicators agree, showing momentum flatlining. Historically, that’s when the green candles show up like heroes in the final scene.
If SOL can hold around $153 to $154, a quick bounce toward $157 or even $159 could happen fast. But if it breaks below $153, next support chills at $150.
The Square fam’s watching this like it’s a telenovela. Oversold setups like this can flip in seconds, and all it takes is one bold buyer to spark a comeback.
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