Let's analyze $SOL
1. Overall Trend (Trend):
• The price reached a level of 253.49$ as a nearby peak and then started correcting, dropping to about 248$.
• The price is still above the EMA25 average (245.39$) and EMA99 (239.92$), which indicates that the overall short and medium-term trend is upward.
2. Technical Indicators:
• RSI (6 and 12 and 24):
RSI(6) at approximately 51, means it's still in the neutral zone after exiting the overbought area.
This indicates that the current drop is a natural correction and not a strong reversal.
• MACD:
Still positive (above zero) but the DIF and DEA curves are close to each other, which means we might see fluctuations before a clear direction.
• StochRSI:
Descending from overbought areas (above 80) to around 53, which indicates that the correction may continue a bit before it bounces back.
3. Liquidity and trading volume (Volume):
• In the last candles on the 1H frame, we see a decrease in volume compared to the upward push, which reinforces the idea that the current movement is a correction and not strong selling.
4. Supports and resistances:
• First support: 245$ (EMA25).
• Second support: 240$ (EMA99).
• The nearest resistance: 253$ then 255$.
✅ The likely scenario for the coming hours (1–6 hours):
• If the price maintains the area of 245$–246$, we will have a rebound and a new rise to test 253$.
• A clear break of the level 245$ will open the door for a deeper drop towards 240$.
• The current momentary trend = slight sideways/downward correction before attempting a new bounce.
Summary:
• If you are in a buy, it is better to monitor the area of 245$.
• If it breaks it, reduce your positions or set a stop.
• If it holds, you might see a near rebound to levels 252–255$.