(SOL) continues to be the center of attention for traders as it hovers around the $142.90 mark. After a period of high volatility, the price action on the 4-hour chart suggests that the asset is at a critical crossroads, balancing between a healthy correction and a potential trend reversal.
After Looking at the current sol chart SOL is currently trading slightly below its 7-period (143.67) and 25-period (143.92) Moving Averages. This indicates short-term bearish pressure. However, it remains well above the 99-period MA ($138.55), which serves as a "Golden Floor" for the current uptrend.
The RSI(6) is sitting at 40.33. Historically, when the RSI dips toward the 30-40 range for Solana, it signals that the selling momentum is exhausting. This suggests that a local bottom might be forming.
The KDJ indicator shows the "J" line at 29.88, which is deep in the oversold territory. This is often a precursor to a "Bullish Crossover," suggesting that a price bounce could be just hours away.
For the next move, traders should keep a close eye on these specific price points:
The Support Zone ($138 - $140): This is the "Must-Hold" zone. If SOL stays above $140.26, the bullish structure remains intact. A drop below $138 could lead to a deeper correction toward $132.
The Resistance Barrier ($148 - $150): To regain full bullish momentum, SOL needs to break and close a 4-hour candle above the recent high of $148.74. Once this is cleared, the path to $160 opens up.
Solana remains the preferred chain for retail activity and new token launches. This consistent "Real-Yield" and high transaction volume provide a fundamental floor for the price.
With the overall crypto market showing signs of consolidation, SOL is performing as a "High-Beta" asset—meaning it might drop slightly faster than Bitcoin during dips but usually recovers much more aggressively when the market turns green.
Given that the RSI and KDJ are nearing oversold levels, the most likely move is a brief consolidation followed by a rebound. Expect SOL to test the $140 support level one more time before attempting to climb back toward the $148-$152 range.
Entering near the $138-$140 range with a stop-loss below $135 offers a high risk-to-reward ratio.
Caution is advised as the technical indicators are currently "oversold," meaning a sudden upward spike could liquidate short positions.
Before you take a step plz DYOR#solana
