SOL rebound lacks momentum; short-term outlook remains bearish 📉
As of November 11, 20:43 (Beijing time), the SOLUSDT mark price was 83.81, down 1.02% over 24 hours, while OI fell 0.8%. The funding rate was +0.0083%, and the 1-hour taker buy/sell ratio was around 1, indicating that the price pullback coincided with a reduction in positions, while buyers have yet to gain the upper hand. Market data (https://bykaranteli.com/symbols/SOLUSDT)
24-hour futures trading volume was about 1.64 billion USDT. The 4-hour spot RSI was around 36.6, and the MACD remained below the zero line, so the rebound is tentatively viewed as a correction. Trading volume (https://bykaranteli.com/symbols) | Technical indicators (https://closedcandle.com/coin/sol/indicators)
My view: bearish over the next 4–24 hours, with a pullback likely after the rebound meets resistance. Watch support at 83; a break below could lead to a test of 82.2. The key resistance is 86.1. If the price holds above it on increased volume, it may rise to 86.6, invalidating the bearish outlook.
#SOL #SOLUSDT #Solana #Market Analysis
As of November 11, 20:43 (Beijing time), the SOLUSDT mark price was 83.81, down 1.02% over 24 hours, while OI fell 0.8%. The funding rate was +0.0083%, and the 1-hour taker buy/sell ratio was around 1, indicating that the price pullback coincided with a reduction in positions, while buyers have yet to gain the upper hand. Market data (https://bykaranteli.com/symbols/SOLUSDT)
24-hour futures trading volume was about 1.64 billion USDT. The 4-hour spot RSI was around 36.6, and the MACD remained below the zero line, so the rebound is tentatively viewed as a correction. Trading volume (https://bykaranteli.com/symbols) | Technical indicators (https://closedcandle.com/coin/sol/indicators)
My view: bearish over the next 4–24 hours, with a pullback likely after the rebound meets resistance. Watch support at 83; a break below could lead to a test of 82.2. The key resistance is 86.1. If the price holds above it on increased volume, it may rise to 86.6, invalidating the bearish outlook.
#SOL #SOLUSDT #Solana #Market Analysis