#SOLUSDT 4H Overview

Current price as of this posting is at $55.013, indicating a moderate market value.

Trading volume has moderate activity with 800,520, suggesting a decent level of interest.

ATR shows moderate volatility at 2.2258.

TECHNICALS:

• OBV indicates a slight decrease to 6.7M, reflecting a minor decrease in buying pressure.

• RSI is currently at 42.02, suggesting a neutral sentiment.

• MFI indicates a neutral sentiment with a value of 44.02.

• CCI shows a bearish market condition at -105.74.

• WR% indicates an oversold condition with -72.85.

MOMENTUM:

• MOM indicates bearish momentum.

• SMA suggests a bearish trend as the price is below it.

• ADI has bearish sentiment as -DI is greater than +DI.

• MACD indicates a bearish market.

• PSAR aligns with a bearish sentiment.

S/R LEVELS:

Support: $53.801

Resistance: $57.494, $58.250, $60.440, $61.190

OVERALL CHART BIAS:

I see a potential bearish bat formation wherein its harmonic D-leg retracement could possibly be at the $66 zone, hence, the market needs to reenter Fib’s golden zone for it to complete.

Based on the FRVP, it has seen a rejection from its retest on the POC, but it still needs to mitigate 2 thick lower OBs for it to completely drop towards its now flipped 50% key support trendline and VAL.

My overall bias is moderately bearish, supported by negative CCI and an oversold condition on WR%. But potential reversal patterns should be closely monitored.