1. Current trend and technical basis$SOL :-
• The current price is approximately $164, with a daily increase between +1.8% to +2.8% depending on the source.
• Technical analysis indicators show a recommendation of 'Strong Sell' on the daily timeframe, while 'Strong Buy' on other metrics such as hourly and daily.
2. Market data and broader context:-
• After a historic peak at $206 in July, the price has currently dropped to between $178–$180, testing important support levels such as the 20-day moving average, which is close to $178.25.
• Some forecasts talk about a potential decline to below $164 followed by a possible rebound towards $180–$190.
• There are technical patterns such as cup-and-handle indicating the possibility of price correction to the range of $140–$150 before equalization again, which is a potential scenario if selling pressure continues.
3. Short-term forecasts (today – tomorrow):-
• Based on current technical indicators and slight volatility, prices could move within an approximate range of $160 to $168 during the day.
• If the price breaks below the 20-day moving average (~$178), it may experience pressure towards lower support at $160, while a good rebound might gradually return it to $168–$170.
✅ Daily summary:-
1- Slight decline, the potential price range is $160 – $164 with a break of the 20-day moving average support.
2- Stabilization or limited rebound, the potential price range is $164 – $168 balancing between short-term support and resistance.
3- Strong rebound, the potential price range is $168 – $170 with strong technical support and improvement in market activity.
📌 Notes and possible reasons for rapid developments$SOL :-
• A decrease in new address activity on the network by nearly 16%, and a decline in Total Value Locked (TVL) by 8%, reflecting a slowdown in activity and usage on the platform.
• In the event of an overall market improvement (especially Bitcoin and Ethereum), we could see a sudden rise in the price of SOL towards higher short-term levels.
• On the contrary, there is pressure from long position holders who may sell to secure profits, with high sell signals from whales recently and a gradual depletion of demand.
🧭 Today's recommendations – Tomorrow:-
1. Watch the support areas at $164–$160; breaking them indicates further weakness.
2. It is preferable to monitor the RSI and MACD indicators and short volume gaps for early detection of potential price reversals.
3. When the price is near $178, check if the 20-day moving average is holding support or not.
4. Beware of sudden news (such as regulatory changes or market indicators) that may momentarily affect the trend.
📈 Short-term outlook (until the end of the week):-
With the continued weakness of network activity and the dispersion of power among speculators, the price is expected to stabilize within the range of $160–$180 over the coming days. Breaking either side may determine the direction for next week.
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