đš SOL/USDT â Bears Still in Control? đ
Solana (SOL) is showing clear bearish momentum on the 1H chart. Price is currently around $114.31, down 2.85% in the last 24 hours.
đ Technical Breakdown
đ EMA 20: $115.76
đ EMA 50: $117.24
đ EMA 200: $118.75
SOL is trading below all three EMAs, which indicates that the short-, medium-, and longer-term trend on this timeframe remains bearish.
The RSI(14) is 31.75, meaning selling pressure is high and the market is getting close to oversold territory. â ïž However, an oversold RSI does not automatically mean price will reverse.
đŻ Important Levels
đą Support: $114.00
đą Major support: $113.60
đŽ Resistance: $115.75
đŽ Resistance: $117.25
đŽ Major resistance: $118.75
đ Bullish Scenario
If SOL can reclaim $115.75 with strong volume and hold above it, buyers could attempt a move toward $117.25 and potentially $118.75.
đ» Bearish Scenario
If SOL loses $114.00â$113.60 with strong selling volume, bearish momentum could accelerate.
đĄ My Take
Right now, don't chase a long just because RSI is low. The trend is still bearish. A confirmed reclaim of resistance would provide a stronger bullish signal, while a clean breakdown of support would favor the bears.
Watch the $114â$116 zone closely. đ
â ïž This is technical analysis for educational purposes, not financial advice. Always manage risk and avoid excessive leverage.
đ„ Tags
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