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Technical Analysis for SOL/USDT Pair

1. General Trend

Current Price: 114.85 USDT (-9.99%)

The general trend is downward after the price dropped from 136.20 USDT to 112.53 USDT over the past 24 hours.

Moving averages indicate the continuation of the downward trend:

MA(7) = 116.39

MA(25) = 121.88

MA(99) = 124.74

2. Technical Indicators

Relative Strength Index (RSI - 6) = 32.85

Indicates oversold conditions but is close to a potential rebound area (>30).

Stochastic RSI = 26.34 with MASTOCHRSI = 22.30

Supports oversold signals, which may lead to a near-term bullish rebound.

3. Support and Resistance Levels

First Support: 112.53 USDT (Lowest price recorded in the last 24 hours).

Second Support: 111.16 USDT (Important psychological level).

First Resistance: 117.18 USDT (Potential corrective peak).

Second Resistance: 123.20 USDT (Level of the 25-period moving average).

4. Forecast and Strategy

Bullish Scenario: If 112.53 USDT is maintained, we may see a rebound towards 117.18 - 123.20 USDT.

Bearish Scenario: Breaking below 112.53 USDT may push the price to test 111.16 USDT or lower.

Strategy:

Short-term traders: Wait for confirmation of a rebound from the support level before buying.

Long-term traders: Monitor for a break or breach of the 123.20 USDT level to determine the upcoming trend.