#SOL 4 hours level shows a clear bearish arrangement. Where are the brothers of the bears?
On the candlestick chart, it is evident that the price fluctuates below the yellow 20-day moving average, indicating selling pressure.
The trading volume shows an increase during the price decline, which may suggest that the selling strength is increasing.
The MACD line is positioned below the signal line, and the histogram shows negative values, further confirming the bearish trend.
The RSI value is 45.37, below the midline, close to the neutral zone, but trending downwards, which may indicate that the price will continue to fall.
The current support level is around $203 (yellow box), and the resistance level is near the upper 20-day moving average at around $220. If the price breaks below the support level, it may further decline.
Therefore, I believe SOL may continue to decline in the short term.
$SOL (signal)
$SOL (contract)