SOL/USDT – will support hold?
On the 4H chart, after peaking at 169.76, price has sharply declined and tested the 158 USDT zone, now acting as short-term support. EMA(7) crossed below EMA(25), signaling a possible continuation of bearish pressure. Price is trading below all three EMAs, reinforcing the downtrend.
Volume is moderate, but spikes on red candles confirm active sellers. RSI(6) is near 30, hinting at short-term oversold conditions, yet RSI(12) and RSI(24) still trend downward.
MACD is in negative territory and gaining downside momentum, signaling continuous selling pressure.
From an ICT perspective, the closest bullish Order Block lies between 154–156 USDT, where price previously rebounded. There’s also a visible unfilled Fair Value Gap (FVG) between 162 and 164.5, which may act as a magnet in case of a bounce.
Conclusion:
As long as price trades below the EMA cluster and fails to reclaim the FVG zone above 162, bears remain in control. A break below 154 would target the 149 zone. A bounce from current levels may retest 162, where price decision becomes crucial.
