$SOL USDT 4H Chart Analysis (Binance) 📉
Current Price: $166.57 (-3.88%)
SOL has seen a sharp drop from its recent high of $182.50 on May 15, hitting a 24H low of $164.54.
Here’s the breakdown:
🔴 Bearish Trend: Price is below the 20-period SMA, with strong selling pressure (large red candles & high volume during the decline).
🛠 Support: $164.54 (immediate), $160.00 (next).
📈 Resistance: $177.50 (swing high), $182.50 (recent peak).
📊 Volume: Selling volume spiked during the drop; now quieter, showing indecision around $166.57.
🕒 Outlook: Bearish bias remains. Watch for a break above $177.50 for a potential reversal or below $164.54 for further downside. No clear reversal patterns yet—proceed with caution!
