๐ Solana (
$SOL ) at a critical point after losing key support!
The price of
$SOL has fallen below the support of $140, confirming the formation of a "head and shoulders" (H&S) pattern โ a strong signal of bearish reversal.
Technical analysis (1D + 4H):
๐ป Main trend is still bearish (descending moving averages)
๐ Immediate support: $126 (already touched)
๐ฏ Next targets: $110 and $93 (H&S projection)
๐ However, the RSI extremely oversold (14 on 4H and 17 on 1D) signals a possible relief rally in the next hours.
๐ง Short-term resistances:
$140 (breakout level)
EMA-20 ($148)
SMA-50 ($160)
If the bulls manage to close above the EMA-20 and sustain it, the pair may aim for $149 and $158.
๐น Main trend: Bearish
๐น Current momentum: Oversold, possible pullback
๐น Confirmation of reversal only comes with a close above the EMA-20 + $140
Prepare the plan: either accumulate at the lows or wait for technical confirmation.
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#HeadAndShoulders #Write2Earn #RSI
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