SOL Update šØ
SOL has dropped from $290s to $160s, nearly -45%, as selling pressure intensified. Price is at a key support zone ($163-$170), a historical reaction level.
š¹ Technical Breakdown:
ā¢ 1D Chart: SOL is near the lower Bollinger Band, signaling volatility. RSI is oversold, hinting at a possible local bottom.
ā¢ 4H Chart: RSI is heavily oversold, but volume remains weak, meaning any recovery needs confirmation.
ā¢ 1H & 15M Charts: A bounce attempt is struggling at $175āshort-term indicators suggest accumulation, but sellers remain active.
š¹ Key Insights:
ā¢ $163-$170 is a major liquidity zoneāthis level will determine the next move.
ā¢ If buyers step in, expect a recovery toward $180-$200.
ā¢ Failure to hold $160 could open the door to $140-$150.
š¹ On-Chain & Market Sentiment:
ā¢ BTC.D remains stable, meaning altcoin moves are more coin-specific.
ā¢ USDT.D is rising, signaling cautious sentimentābreakouts need stronger confirmation.
ā¢ TOTAL3 is pulling back, showing altcoins like SOL are struggling to regain strength.
ā” Whatās Next?
ā¢ Bullish: Holding $163-$170 and reclaiming $180+ could push SOL toward $200-$220.
ā¢ Bearish: Losing $160 could lead to $140-$150 before a major reaction.
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Cheers, and Stay Safe!
š El Shaddai: (Hebrew: ×Öµ× ×©Ö·××Ö·Ö¼×) ā āGod Almighty, the All-Sufficient One.ā His grace sustains. $SOL
