$SOL Analysis

Solana is showing significant bearish pressure with price action breaking below key support levels. The sharp decline appears technically oversold, though selling momentum remains strong with ADX at 39.8 indicating a strong bearish trend. Market structure suggests a potential short-term bounce, but overall sentiment remains cautious.

💰 Analysis:

The current price of $149 represents a critical juncture, testing the psychological $150 level. RSI at 22.60 indicates severely oversold conditions, while the negative MACD crossover confirms bearish control. Volume profile shows declining buy-side pressure with the volume ratio at 0.67x, suggesting limited immediate recovery potential.

🎯 Trade Setup:

• Short-term: Watch for potential relief bounce from $146 support

• Key resistance zone at $153-155 likely to act as strong selling pressure

• Risk-managed entries possible on rejection from $154 resistance

• Stop losses should be placed above $160 for short positions

⚠️ Risk Management:

The relatively low volatility (2/10) suggests controlled price movement, making position sizing more manageable. However, the strong downtrend requires careful stop placement and position sizing. Consider scaling into positions rather than full-size entries.

💡 Action Plan:

Look for potential short entries on any relief bounce toward $154, with tight stops above $160. For bulls, wait for clear reversal signals and a break above $155 before considering long positions. Current market structure favors shorts, but oversold conditions warrant caution for new positions

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