【$SOL Signal】Hold Cash and Wait for Key Support Confirmation

After experiencing a sharp decline, $SOL is weakly consolidating around 80 and is currently in a technical rebound phase within a downtrend.

🎯Direction: Hold Cash (NoPosition)

Market Analysis: The price (80.08) is below the EMA20 (82.23) and EMA50 (87.52), indicating a predominantly bearish trend. Although there is a slight rebound on the 4H timeframe, the last candlestick closed at 80.04, showing weak buying momentum.

Logical Analysis: The current rebound lacks key support elements. 1. Funding rate (-0.0167%) is negative, open interest (OI) trend is stable, and there is a possibility of a short squeeze, but the price has not effectively broken above EMA20, and RSI (37.95) remains in a weak zone, not signaling a strong bullish trend. 2. Order book imbalance (14.73%) and buy/sell ratio (1.35) show accumulation of buy orders below, mainly around the 80 level, so support strength needs to be tested.

Trading Plan: The current pattern is a downward continuation; long positions lack trend and momentum confirmation, while short positions face short squeeze risk under negative funding rates. The best strategy is to stay in cash and wait. If the price can volume-break above and hold above EMA20 (82.3), it could signal a short-term trend reversal. If it breaks below 79.5 (recent swing low), the downward continuation is confirmed, and short opportunities can be considered.

Trade 👇 $SOL

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