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

$SOL entered a downtrend after breaking below EMA20, currently consolidating weakly around 78.9. The buying pressure on the 4H timeframe continues to weaken (Buy/Sell Ratio < 0.5), and the depth imbalance indicates a buildup of sell orders (significant Ask thickness). This is a typical downtrend continuation pattern, not a bottoming formation.
🎯 Direction: No Position
Market Analysis: Price has broken below EMA20 (81.16) and is being suppressed by it. 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 short positions, and the market is still waiting for direction.
Hardcore Logic: The current price is below the 50% Fibonacci retracement level (79.5) of the recent downtrend (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.
A true bullish opportunity requires the price to retest and stabilize above the support zone of the previous low (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 pick is extremely risky.
Trade here 👇 $SOL
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