📊 $SOL 4H Outlook — Range Bound, Bearish Bias Near Support

Current price: 117.93 USDT

After hitting a local high of 124.90 earlier this week, $SOL has pulled back and is now trading near the lower end of its recent range. Here's what I'm watching for the next 4 hours:

Key Levels:

🟢 Support: ~116.00 (recent swing low) → 112.60 (major support)
🔴 Resistance: ~121.80 (recent rejection high) → 124.90 (range top)
Technical Read:

RSI (6/12/24) all sitting below 50 (42–47 range) → bearish momentum
The spike rejection at ~122 (that "S" mark) confirms sellers are active near highs
Price is currently testing the lower bound of the 116–122 range
4H Scenarios: 1. Bearish (higher probability): If 116 breaks with volume, next stop is likely 113–112.60 zone 2. Bullish (needs confirmation): Only reclaiming 120+ and holding would suggest a retest of 122+ 3. Neutral: Chop between 116–120 if no catalyst

My take: Leaning slightly bearish short-term. Waiting for a confirmed break of 116 before committing. Range trading is risky here — false breaks are common.

⚠️ Not financial advice. DYOR.

#SOL #SOLUSDT #Crypto #TechnicalAnalysis #Trading