$SOL

⚠️SOL is really standing on the edge of a cliff now!

On June 21, the price officially fell below the support level of $140, and it completed a classic bearish head-and-shoulders pattern — technical analysts know at a glance that once this pattern appears, the bears take center stage.

🔻The short-term downward target is clear: first look at 110, then at 93!

Although the bulls have been trying to initiate a rebound in the past few days, the first major hurdle in front of them is the 20-day moving average ($147), where they are likely to be pressed down by the bears.

If the rebound fails, SOL may directly revisit the support at $110, or even drop to the target price of $93 without mercy.

🔍 But don't be too desperate: there is still a glimmer of hope for a rebound!

If SOL can break through and close above the 20-day moving average, it indicates that bottom buying is still quite resilient.

Then the price may have the chance to rush towards the 50-day moving average ($159), but be careful, as it may encounter a second attack from the bears here!

⏱ How does the 4-hour chart look?

The moving averages are sloping down, indicating that the bears are still in control.

However, the RSI is already close to the oversold area, which may create some space for a short-term rebound.

If the price is pushed back at $140, the bears will reapply pressure downward.

Only by standing above the 50-day moving average can it be considered a real rebound signal, and then there will be a chance to push towards 149→158.