SALONA salammed: Oversold Bounce or Trap?

$SOL plummeted to $126.78 and is now trying to recover. Let's analyze the situation:

*Key Stats:*

- *Current Price:* $128.52 (-1.46%)

- *RSI(6):* 27.72, signaling oversold territory

- *StochRSI:* Near 5, suggesting bearish momentum may be weakening

*Potential Bounce:*

- *Dead-Cat Bounce or Recovery:* The oversold conditions could lead to a bounce or recovery

- *Confirmation:* Above $129.50 is crucial for confirmation; $130+ could lead to upside targets of $132.50 and $134.00

*Bearish Scenario:*

- *Deeper Slide:* Failing to hold $126.50 could open the door for a deeper slide toward $124.00

*Trading Strategy:*

- Monitor $129.50: Wait for confirmation above $129.50 before entering long positions

- Watch $126.50: Keep an eye on the $126.50 support level to gauge the strength of the potential bounce

$SOL

SOL

129.07

-0.86%

#BTCRebound #WhaleMovements #SECGuidance