🚨 $SOL /USDT Trading Signal 🛑 🩸

👉 SOL/USDT is in a bearish phase, and traders should remain cautious. Monitor key levels for potential reversals or breakdowns before making significant moves.

1. Price Trend:

Current price: $187.09 (-5.51%), indicating a bearish sentiment over the last 24 hours.

24-hour range: $182 - $198.27, showing notable intraday volatility.

2. Moving Averages:

MA(7): $202.86

MA(25): $197.76

MA(99): $197.18

👉 The price is below all key moving averages, confirming bearish momentum in the short and mid-term. The crossover of MA(7) below MA(25) adds to the selling pressure.

3. Support and Resistance Levels:

Resistance: Around $202 and $218, where price previously reversed.

Support: Strong support around $175.26, where the price bounced earlier.

4. Volume:

The volume has been moderate, with 3.65M SOL traded in the past 24 hours.

A recent decline in volume may indicate fading buying interest.

5. RSI (Relative Strength Index):

RSI(14): 41, indicating the asset is nearing the oversold region but still has room for further downside before a strong reversal.

6. Candlestick Patterns:

The last few candles show strong bearish pressure with lower highs and lower lows.

Short-Term Analysis:

Bearish Momentum: The price action and indicators suggest a continuation of bearish sentiment. The next support zone lies around $175, which could be tested if selling persists.

Medium-Term Analysis:

Neutral-Bearish Outlook: The inability to reclaim MA(25) and MA(99) levels suggests a lack of upward momentum. For the trend to reverse, the price must break above $202.

Trading Strategy:

1. For Buyers:

Wait for a confirmed bounce off the $175 support or a breakout above $202 before entering long positions.

2. For Sellers:

Consider shorting on breakdowns below $182, targeting the $175 support. Stop-loss around $198 to limit risk.