🔍 $SOL Analysis: Bearish Pressure Mounting
After analyzing SOL's price action, the hourly chart shows a concerning trend as price approaches the local support at $233.06. The decreasing volume and bearish momentum suggest a likely test of the $230 zone.
The higher timeframe analysis reveals an even more bearish outlook. Watch out for a candle close with a long wick - this could signal enough momentum for a support break, potentially pushing SOL down to the $210-$220 range.
Keep an eye on volume - currently showing low activity from both buyers and sellers. This could mean bigger moves ahead once momentum picks up.
Trade carefully! 📊
