【$SOL Signal】No Position | Downtrend Continuation, Waiting for Key Support Confirmation

$SOL entered a downtrend after breaking below the EMA20, currently consolidating weakly around 78.9. The buying pressure on the 4H timeframe continues to weaken (Buy/Sell Ratio < 0.5), and the deep imbalance indicates a buildup of sell orders (significant Ask thickness), which is a typical downtrend continuation pattern rather than a bottoming process.
🎯 Direction: No Position
Market Analysis: Price has broken below the EMA20 (81.16) and is under its resistance. RSI (38) is in the weak zone but not oversold, indicating that downward momentum is still present. The key point is that open interest (OI) remains stable rather than decreasing, combined with a negative funding rate (-0.0011%), suggesting that traders are not massively closing long positions, and the market is still waiting for a direction.
Hardcore Logic: The current price is below the 50% Fibonacci retracement level (79.5) of the recent downtrend range (82.07-76.9), showing no strength for a rebound. The order book reveals a dense wall of sell orders (Asks) in the 79-79.2 range, forming a short-term strong resistance.
The real bullish opportunity requires waiting for the price to retest and stabilize above the previous low support zone (76.5-77.5), accompanied by rising OI and a Buy/Sell Ratio above 0.5. Currently, there is no bullish logic, and forcing a bottom-fishing trade is extremely risky.
Trade here 👇 $SOL
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