$SOL /USDT 4-hour chart analysis
The current price is 147.29, showing signs of consolidation following a significant decline from 154 to 145 around the 28th, reflecting strong selling pressure at that time.
The price has since stabilized between 145 and 150, with immediate support at 145 and resistance at the 24-hour high of 150.39.
Volume has dropped considerably after the spike during the sell-off, indicating a lack of strong directional momentum and suggesting the market is in an indecisive phase. The order book shows a near-even split (50.44% buy vs. 49.56% sell), further confirming the lack of clear sentiment.
A breakout above 150 with increased volume could signal a bullish reversal, potentially targeting the 152-154 resistance zone, while a breakdown below 145 may confirm a bearish continuation, with the next support around the 140 level.
Traders should watch for a volume-backed breakout to determine the next move and consider tight stop-losses given the recent volatility.
