Price Action & Structure (15m Chart) for #sol

Downtrend Confirmation: The chart shows a clear lower high, lower low pattern from May 2nd onward, confirming a short-term downtrend.

Failed Breakout: The price attempted a breakout above ~$151 (marked with a high volume of 343.094K), but it was strongly rejected, forming a local top and triggering a sharp reversal.

Current Price Zone: SOL is hovering around $143.60, repeatedly testing this level. This suggests it's becoming a pivot zone (could break down if bears maintain pressure).

📊 Volume Analysis

High Volume Rejection at $151: The spike at that resistance zone, followed by a selloff, shows institutional or large seller activity.

Low Volume Consolidation: The recent move toward $143 is happening on relatively lower volume, indicating weak bullish defense—typically bearish for the short term.

📐 Key Technical Levels

Support:

Immediate: ~$142.80

Stronger: ~$140 (psychological round level and historical bounce point)

Resistance:

Immediate: ~$145.50

Strong: ~$151 (where the large volume rejection occurred)

📈 Indicators & Patterns

Bearish Flag Structure forming after the drop from $151.

If price breaks below $142.80 on increased volume, it could trigger a selloff to $140 or below.

No bullish divergence is visible on this chart timeframe, suggesting no strong reversal signal yet.

✅ Final Signal (Next 24 hours):

Short-term Bearish Bias

Price is in a declining structure.

Volume confirms weakness on bounces.

Rejection from a major resistance zone.

If $142.80 breaks, expect $140–$138 test range.

📌 Trade Consideration (Not Financial Advice):

Short bias with tight stops above $145.50.

Wait for a confirmed break below $142.80 for potential continuation.

Only flip bullish on a strong reclaim above $146 on volume.