๐ฅ $SOL /USDT
Support cracked on the 4H chart โ is a deeper drop brewing or just a shakeout?
๐ Current Price: $139.89 (โ1.70%)
๐ 4H Chart Overview:
SOL just broke below $141, which had been acting as mid-range support. This move came with a spike in volume, signaling aggressive selling. Bulls are currently attempting a recovery bounce โ but momentum remains weak below all major MAs.
๐ Moving Averages Check:
โข MA 20: $145.17 (Bearish crossover from above)
โข MA 50: $147.70
โข MA 99: $151.19
SOL is clearly trading below all MAs, confirming downward pressure in the mid-term.
โ๏ธ Market Behavior:
After failing to reclaim $148โ150, SOL dropped hard to $135.69. Buyers stepped in at that level, but thereโs no confirmation of reversal yet โ just a reaction bounce.
๐ Momentum Snapshot:
โข Volume spike suggests exit liquidity
โข Rejection at MA cluster above $145
โข RSI likely approaching oversold on lower TFs
๐ Key Levels to Watch:
โข Resistance: $145.20 โ $148.00 โ $151.00
โข Support: $135.70 โ $132.00 โ $125.00
๐งญ Recommendations:
โ Bullish Scenario:
If SOL can reclaim $145 and close above it on the 4H, it might retest $148 and then challenge the 99 MA at $151.
โ Bearish Scenario:
If $135 breaks, expect downside acceleration toward $132 or even $125.
๐ Consolidation Possibility:
If SOL ranges between $135 and $145 for several candles, we could see a sideways chop โ likely awaiting BTCโs next move.
โ ๏ธ DYOR โ Technical setups are tools, not guarantees. Use proper stop-loss and size your risk.
Do you think this breakdown is a bear trap or the start of a deeper slide? Drop your take โฌ๏ธ
