$SOL Analysis

Solana is showing signs of consolidation after its recent pullback, with price action forming a potential bottom structure around the $141 support zone. The declining momentum and oversold RSI suggest a temporary exhaustion of selling pressure, though the strong ADX reading of 46.0 confirms the prevailing downtrend remains intact.

💰 Technical Overview:

The current price action reveals a bearish bias with SOL trading below all major EMAs. The negative MACD crossover (-3.24) and bearish DMI spread (15.6/42.2) suggest continued downside pressure. However, the moderate BB Width of 21.94% indicates potential mean reversion ahead.

📈 Trade Setup:

• Short-term resistance cluster around $147-$151 provides clear invalidation levels

• Primary support at $141 needs to hold to prevent further downside to $123

• Risk-reward favors scalp longs near $141 with tight stops below $139

• Confirmation needed above $148 for swing long positions

⚠️ Risk Management:

The relatively low volatility (2/10) and healthy liquidity (8/10) provide decent trading conditions. However, the weak technical score (4/10) suggests caution. Position sizing should be conservative until clear directional bias emerges.

💡 Action Plan:

Watch for reversal signals near $141 support with volume confirmation. Scalp opportunities present between $141-$147 range. Larger positions warrant waiting for a clear break and retest of $148 resistance. Keep stops tight given the broader downtrend context.

Neutral news #PlanTheMoon