$SOL: This chart is very bearish to me unfortunately and I'm still targeting $78.

The daily chart shows an inability to reclaim the D1 EMA200. Therefore, the compression is beginning to break down after a fake out that happened 10 days ago with the $SOLBTC pair having already begun the breakdown process. The RSI and Stochastic RSI oscillators have also completed their textbook bearish retests and now have room to move lower.

On the weekly , there was a failed attempt to retest the EMA13+21 trend for the first time in the last 6 months. This reinforces my bearish bias, which I've maintained for the last few months on this asset. Additionally, the RSI has also fallen below the 50 level.

I target $78 because of the horizontal support and MA100+EMA200 confluence. If that level is lost, the next major area would be $47-50. My hope is that prices go low enough to present excellent buying opportunities heading into a looser monetary policy environment.