SOL Looking a Bit Heavy – Watch These Levels 📉
Just checking in on the $SOL chart, and things are looking a little shaky in the short term. After trying to push past that $125 mark, we just saw a pretty sharp rejection on the 1h timeframe.
The Breakdown:
EMA Pressure: We’ve slipped below the 7 and 25 EMAs. That big red candle just sliced through support, and now we’re hovering right around the 99 EMA ($123.48).
Stochastic RSI: It’s diving fast. Usually, this means there's more room to the downside before we find a solid floor.
Key Support: If we can’t hold this $123.50 area, we might be looking at a retest of the $122.70 lows.
My Take:
It feels like a "wait and see" moment. I wouldn't rush into a long here until we see if the 99 EMA holds or if we get a bounce from the oversold territory. The volume is picking up on the sell-side, so stay sharp.
Are you guys buying this dip or waiting for $120? Let me know below! 👇