Current Price: $189.98
24h Range: $188.31 โ $197.00
Trend timeframe: 15m chart (short-term)
๐ Technical Indicators
MA(7): 189.87 (yellow line)
MA(25): 191.57 (pink line)
MA(99): 191.71 (purple line)
๐ The short-term MA(7) has just turned slightly upward, suggesting the start of a possible short-term bounce.
However, price is below MA(25) and MA(99) โ indicating overall short-term bearish pressure.
๐ฏ๏ธ Price Action
SOL dropped sharply from $197 to $188.83, forming a local bottom.
The last few candles show buying pressure and a potential reversal attempt from that support.
Resistance is visible around $191.5โ192, where MA(25) and MA(99) converge โ this is a key rejection zone.
๐ Possible Scenarios
Bullish Case:
If SOL breaks above $192, next targets:
$194.5 (minor resistance)
$197 (recent high)
Confirmation would come with strong volume and MA(7) crossing above MA(25).
Bearish Case:
If price fails at $191 and drops below $188.8, expect:
$186โ185 next support zone.
Continued lower highs would keep the short-term trend bearish.
โ๏ธ Summary
Trend: Short-term consolidation after a drop.
Bias: Slightly bearish to neutral, unless it breaks above $192.
Key levels:
Support: $188.8 โ $185
Resistance: $191.5 โ $197
