【$SOL Signal】Hold Cash Waiting for Key Support Confirmation

$SOL Continues to decline within the daily chart downward channel, with prices breaking below all major EMAs, indicating a deep imbalance and heavy selling pressure.

🎯 Direction: Hold Cash (NoPosition)

Currently, the market lacks clear buy or sell signals. Although prices have slightly rebounded, the order book shows a thick wall of sell orders (Asks) above 84.30, far exceeding buy orders (Bids). The depth imbalance reaches 3.52%, indicating that major funds are not actively pushing the price higher at this level. Open interest remains stable, and the funding rate is negative, suggesting a dominant bearish sentiment, but no clear structure of short covering or major distribution has formed.

Hardcore logic: Price is below the daily EMA20, indicating a bearish trend. However, RSI status is unknown, and the price has rebounded from a recent low of 78.29, making direct shorting risk-reward unfavorable. Long conditions are even less satisfied: no key support confirmed, no signs of buy absorption, and no rising open interest.

The best strategy is to stay on the sidelines. Watch whether the price can establish effective support in the previous liquidity zone of 80.00-82.00, with signs of increased buy orders and rising open interest indicating capital inflow, before considering a long position. Otherwise, any rebound to the 86.00-88.00 zone (former support turned resistance) accompanied by volume-price divergence would be a high-probability shorting opportunity.

Trade here 👇 $SOL

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