Honestly, let me make one thing clear upfront.
As for SOL, I’m in no rush to buy today. I’ll wait for now.
It’s at $80.29 now, down from $82.38 a moment ago, and -1.74% on the day.
The 1-hour RSI(6) is 46.04, back in neutral territory. When it was overbought at 78.51 earlier, the bounce was already running out of steam. Now that it’s caught its breath, it looks ready to head down again.
The 4-hour MACD has been in a death cross for 5 candles, and the SuperTrend at $84.89 is still pointing down.
The daily RSI(6) is 11.95, even more oversold. MA7 at $84.54, MA25 at $94.49, and MA99 at $100.17 are all overhead.
The funding rate is now -0.0054%, and the next one is +0.0048%. Longs are about to start paying, but 77.09% of traders are still long, so I’m even less inclined to chase.
Big money saw net inflows of +60,824 SOL today, but the price is still falling. To me, it looks more like someone is slowly selling off.
So I’ve written out my spot trading plan in advance:
If you’re holding: sell some on a bounce to 82.38–83.52. Take a little profit and put your mind at ease.
If you’re not holding: don’t chase. Wait and see at 79.80, then again at 77.85. It’s $80.29 now, just $0.49 away from 79.80, so I’ll wait a little longer.
If it closes and holds above 84.89, I’ll admit I was wrong and change my approach. No stubbornly digging in.
What about you? If you’re holding, are you planning to sell some on a bounce or hold on? If you’re not holding, are you waiting for 79.80?
— Med BHN 7
#SOL #BTC #BNB #Cryptocurrency #Solana
As for SOL, I’m in no rush to buy today. I’ll wait for now.
It’s at $80.29 now, down from $82.38 a moment ago, and -1.74% on the day.
The 1-hour RSI(6) is 46.04, back in neutral territory. When it was overbought at 78.51 earlier, the bounce was already running out of steam. Now that it’s caught its breath, it looks ready to head down again.
The 4-hour MACD has been in a death cross for 5 candles, and the SuperTrend at $84.89 is still pointing down.
The daily RSI(6) is 11.95, even more oversold. MA7 at $84.54, MA25 at $94.49, and MA99 at $100.17 are all overhead.
The funding rate is now -0.0054%, and the next one is +0.0048%. Longs are about to start paying, but 77.09% of traders are still long, so I’m even less inclined to chase.
Big money saw net inflows of +60,824 SOL today, but the price is still falling. To me, it looks more like someone is slowly selling off.
So I’ve written out my spot trading plan in advance:
If you’re holding: sell some on a bounce to 82.38–83.52. Take a little profit and put your mind at ease.
If you’re not holding: don’t chase. Wait and see at 79.80, then again at 77.85. It’s $80.29 now, just $0.49 away from 79.80, so I’ll wait a little longer.
If it closes and holds above 84.89, I’ll admit I was wrong and change my approach. No stubbornly digging in.
What about you? If you’re holding, are you planning to sell some on a bounce or hold on? If you’re not holding, are you waiting for 79.80?
— Med BHN 7
#SOL #BTC #BNB #Cryptocurrency #Solana
