Analysis of the $SOL /USDT Perpetual Chart (4-Hour Timeframe)
This gives a medium-term view rather than ultra-short-term noise. Here's accurate breakdown:
Price Action (4h Candles)
- Trend: Mild bearish consolidation. Price has been in a descending channel since a peak near $130 (left side of chart) down to the current $123 range. Recent candles show rejection at $126–$127 (upper Bollinger), with a pullback to test $122.50 low.
- Key Levels:
- Resistance: $124.50 (middle Bollinger/EMA cluster), $127.98 (upper Bollinger).
- Support: $122.50 (24h low), $121.02 (lower Bollinger), deeper at $119.15 (previous swing low marked).
- Candles: Larger red candles on down moves, smaller bodies recently—indicating slowing momentum and potential exhaustion. The last candle is a small red one with lower wick, showing buyers defending $123.
Volume
- Volume Bars: Steady but not explosive—green on up candles, red on down. No major spike, suggesting the pullback is on low conviction (possible trap before reversal).
Overall Behavior & Outlook
- Current State: SOL is in a healthy correction after a run-up to $130 earlier in Dec. The 4h chart shows a potential bottoming pattern: oversold StochRSI, price at lower Bollinger, shrinking MACD histogram, and support hold at $122.50.
- Bull Case: If $BTC stabilizes (currently ~$87K range), $SOL often leads alts. Break above $124.50 could target $127–$130 quickly (channel top).
- Bear Case: Break below $121 signals deeper correction to $119 or lower.
-Probability: Leaning bullish short-term—oversold on 4h with volume not confirming downside. Good risk/reward for longs with tight stop.
Suggested Signal (Probability-Based)
LONG Bias on dip buys:
- Entry: $122.50–$124.00 (current range).
- Stop: Below $121.00.
- Targets: $127 (TP1), $130 (TP2).
Always DYOR—crypto is volatile, and this is not advice.