#solana $SOL
$SOL under pressure: should we expect a reversal from $112? 📉
Friends, the situation with Solana currently looks quite tense, but interesting for those looking for entry points. Let's take a look at the charts:
🔴 Bearish dominance: On the 4-hour timeframe, we see a confident downward trend. The price has broken through the levels of $125 and $120, settling around $115.25. The moving averages (EMA 7, 25, 99) have lined up in a cascade from top to bottom, which is a classic signal of buyer weakness.
⚡ Oversold zones: An interesting moment — the RSI(6) indicators are at 25 and Williams %R is at -80. This indicates that the market is locally overheated by sales. Usually, after such values, we see a technical bounce to the nearest resistance (EMA 7 — ~$117).
📍 Key levels:
Support: $112.14. If we hold — a flat or upward correction is possible. If we break through — the next stop could be around $105–108.
Resistance: The first serious obstacle — $118. For a real reversal, we need to secure above $122 (EMA 25).
Conclusion: At this moment, entering "long" is risky without confirmation of a reversal. The best strategy now is to watch the price reaction at the level of $112.
What do you think? Are we buying on the dip or waiting lower? 👇