$SOL Technical Analysis of SOL/USDT
1. Price and Trend
• Current Price: $127.66
• Daily Drop: -7.41%
• Recent High: $295.83
• Overall Trend: Bearish in the short term following a sharp drop from $295.83. Currently, the price is bouncing off the EMA (99), which may act as key support.
2. Technical Indicators
RSI (Relative Strength Index)
• RSI(6): 27.00 (Oversold)
• RSI(12): 37.72
• RSI(24): 45.05
The RSI(6) is in the oversold zone (<30), indicating that the asset may be close to a technical rebound in the short term. However, RSI(12) and RSI(24) do not yet confirm a strong reversal.
MACD (Moving Average Convergence/Divergence)
• DIF: -4.25
• DEA: 7.93
• MACD: -12.18
The MACD is in the negative zone and has a bearish slope, confirming selling pressure. There are no bullish crossover signals yet, suggesting that the bearish momentum could continue.
Volume
• Current Volume: 986K
• MA(5) Volume: 29,680,922
• MA(10) Volume: 35,412,962
Volume has increased during the drop, indicating strong selling activity. However, an increase in volume at a key support level could mean accumulation by buyers.
3. Key Levels
• Resistance: $144.74 (last lost support, now resistance)
• Immediate Support: $127.66 (bouncing zone in EMA)
• Strong Support: $90.34 (psychological zone and previous low)
4. Possible Scenarios
1. Technical Rebound: Given that the RSI is oversold, the price might attempt a rebound towards $144.74.
2. Bearish Break: If it loses the current support, it could head towards the $90.34 zone.
3. Consolidation: If buying volume increases, we could see stabilization between $127 and $144 before making a trend decision.
Conclusion
• Short Term: Bearish trend with possible rebound due to oversold conditions.
• Medium Term: Needs to recover $144.74 to consider a bullish reversal.
