#sol ๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ๐ฅ
By looking at the SOL/USDT chart on a one-hour timeframe (1h), we observe the following:
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๐ Overall trend:
Current price: 152.85 USDT (down -4.96%).
The short-term trend is clearly bearish after reaching a peak at 168.36.
The price has broken below the moving averages MA(7), MA(25), and MA(99), reinforcing the negative trend.
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๐ Technical indicators:
1. RSI (Relative Strength Index):
Value: 27.70
Entered the oversold area (Oversold) < 30, which may indicate a potential rebound, but not a confirmation.
2. MACD:
Fast line (DIF): -2.20
Slow line (DEA): -1.64
MACD Histogram: Negative and increasing in negativity.
Indicates strong ongoing selling momentum with no bullish crossover signs yet.
3. Stochastic RSI:
Value: 3.89 and 8.07
Both are in the extremely oversold area.
Could indicate a near-term correction or temporary rebound.
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๐ง Summary of analysis:
Indicator Signal
Overall trend Bearish
RSI Oversold (potential near-term rebound)
MACD Strong selling momentum
Stoch RSI Oversold (potential correction)
Price against averages Below all averages
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โ Technical recommendation (not financial):
If you are in a short position: you can continue but be cautious of any near-term technical rebound.
If you are considering buying: itโs best to wait for a clear rebound signal to form (like a MACD crossover or RSI exiting the oversold area).
Potential support monitoring areas:
150.50 (the low of the last candle)
146.84 (previous low)