1. Price Action Analysis
Current price range: 146.85 USDT
Recent high: 153.88 USDT
Recent low: 140.25 USDT
After a sharp drop to 140.25, the price had a significant rebound reaching 153.88, suggesting a recovery after aggressive selling.
Currently, the price is in a bearish consolidation range since the high of 153.88, with a recent recovery towards 147 USDT.
📈 2. Moving Averages
Yellow moving average (short MA): Very close to the current price, turning upwards, which indicates a possible short-term bullish momentum.
Pink moving average (medium duration): It is also beginning to tilt upwards, supporting the hypothesis of a technical rebound.
Green and blue moving averages (longer duration): They are still above the price and with a negative slope, which indicates that the larger trend remains bearish. For this structure to change, the price would need to break those averages and consolidate above.
📉 3. RSI Indicators (Relative Strength Index)
RSI(6): 74.238 — overbought zone.
RSI(12): 57.072 — neutral/bullish zone.
RSI(24): 49.410 — neutral level.
This indicates that in the very short term (RSI 6) the asset is overbought, so we could see a correction or pause in the bullish momentum. However, the other RSIs show that there is still room to continue rising if demand remains.
🔁 4. Market Structure
After hitting the low at 140.25, a higher high was formed at 153.88.
The recent drop did not reach the previous low (stopped around 144.57), which could be generating a structure of higher lows → early signal of a trend change.
The price is attempting to break the dynamic resistance of the long moving averages.
🔮 5. Possible Trend Development
If the price manages to break and close above the longer-duration moving averages with increasing volume, it could confirm a bullish trend change in this timeframe.
Otherwise, if the price is rejected in this zone (147-148 USDT), we could see a new drop to test supports at 144.5 or even 142 USDT.
✅ Key Zones
Immediate resistance: 148 USDT (moving averages and previous resistance)
Strong resistance: 153.88 USDT
Immediate support: 144.5 USDT
Strong support: 140.25 USDT
📌 Conclusion
Currently, SOL/USDT shows signs of recovery with a technical bullish momentum, but still within a larger bearish structure. The next key action will be to observe if the price can surpass and consolidate above the longer-duration moving averages. If so, we could see a bullish continuation towards 150–153. Otherwise, a new corrective phase towards 144 or even 140 USDT would be expected.