Analysis on $SOL

Positive Points (indicating a potential rise):

1. Bollinger Bands:

The price is currently close to the lower limit, which often gives a chance for a rebound upwards.

The Bollinger average is at 175.15, so if the price closes above it, it will give a positive signal.

2. Stochastic RSI:

The indicator is very low at 7.26, which means the price is in a strong oversold area → high potential for a rise from here.

3. MACD:

Although the MACD is negative (-0.30), it is close to the positive crossover point, and if a crossover happens soon, it will support the rise.

4. Wm%R (Williams Indicator):

At -75.40, close to the oversold area (below -80), which also means a chance for a rebound.

🔻 Negative Points or Cautions:

1. Pressure on support 173:

The price is currently trying to stabilize at this level, and if it breaks it, it will go to the 169 area then 167.

2. Lack of momentum currently:

The small candles and weak MACD indicate that there is not much momentum.

📈 Technical Outlook (My Opinion)

✔️ I completely agree that the currency is in a temporary correction on the smaller time frames (1 hour and 4 hours).

✔️ Support at 169–170 is strong, and it is expected to rebound from it.

✔️ Any clear break above 175.5 with confirmation above 177.9 will push the currency directly towards 180 then 187.

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✅ Potential Trade (only if stabilization is achieved)

Element Level

Entry Point 174–175 (after confirmation candle)

Stop Loss 169.0

Targets 180 – 187 – 190

This is just an analysis I am providing

and this is not advice to enter a trade

this is my technical analysis