$SOL down 1%: Can it break 112.1 or fall to 105.7?
$SOL is trading at US$109.1, down 1.05% in 24h and 8.08% in 7 days. The daily range was between 108.5 and 112.1, and 24h volume totaled US$211 million.
On the 4h chart, the EMA20 is at 113.0 and the EMA50 at 116.0, confirming the downtrend. The RSI14 is just touching 30 (29.6), signaling oversold conditions. Key support levels are 108.5 and 105.7, while resistance is at 112.1 and 116.8. $NEAR (+6.7%) and $ZEC (+2.2%) are also moving.
Binance futures show funding at +0.0100% every 8h, and open interest fell 3.4% in 24h, landing at US$921 million. 70% of accounts are long, which could trigger liquidations if the price keeps falling.
Bullish scenario: If resistance at 112.1 breaks, the downtrend is invalidated and the next target would be 116.8. Bearish scenario: A drop below 108.5 would invalidate any rebound and pave the way to 105.7. I wouldn’t enter now; it smells like a trap.
Will it break 112.1 or return to 108.5? 🟢/🔴
#Solana #Futures
This is not financial advice. Do your own research before investing.
$SOL is trading at US$109.1, down 1.05% in 24h and 8.08% in 7 days. The daily range was between 108.5 and 112.1, and 24h volume totaled US$211 million.
On the 4h chart, the EMA20 is at 113.0 and the EMA50 at 116.0, confirming the downtrend. The RSI14 is just touching 30 (29.6), signaling oversold conditions. Key support levels are 108.5 and 105.7, while resistance is at 112.1 and 116.8. $NEAR (+6.7%) and $ZEC (+2.2%) are also moving.
Binance futures show funding at +0.0100% every 8h, and open interest fell 3.4% in 24h, landing at US$921 million. 70% of accounts are long, which could trigger liquidations if the price keeps falling.
Bullish scenario: If resistance at 112.1 breaks, the downtrend is invalidated and the next target would be 116.8. Bearish scenario: A drop below 108.5 would invalidate any rebound and pave the way to 105.7. I wouldn’t enter now; it smells like a trap.
Will it break 112.1 or return to 108.5? 🟢/🔴
#Solana #Futures
This is not financial advice. Do your own research before investing.