【$SOL Signal】Hold Cash and Wait — Downtrend Continuation, No Valid Support Seen

$SOL Accelerating downward after breaking below EMA20 (83.65), currently in a clear downtrend channel. 4H candles are consecutively bearish, buying pressure is weak, and the depth imbalance of -0.69% indicates selling pressure dominates.

🎯 Direction: Hold Cash

Market Analysis: Price quickly dropped from recent high of 84.34 to 78.97, a decline of over 6%. Key data contradicts: funding rate at -0.0136% (bearish), but open interest (OI) remains stable, suggesting no major liquidation by large players, more likely passive long position closing. RSI has entered oversold territory (31.31), but the price has not shown a significant rebound, indicating weak oversold conditions.

Logical Core: The current price is testing the 78.5-79 zone (recent lows and thin order book area), but the depth chart shows weak buy orders below, casting doubt on support strength. ATR is 2.42, volatility is increasing, but price action has not formed a Pin Bar or bullish engulfing pattern to signal a reversal.

Core Strategy: Avoid bottom-fishing on the left side. To go long, wait for two clear signals: 1) Price reclaims and stabilizes above EMA20 (83.65), with OI rising in tandem. 2) Or price shows a clear absorption pattern at key support levels (e.g., around the previous daily low of 77.5) with long lower shadows and decreasing volume. Currently, neither condition is met, so holding cash and observing is the only positive expectation choice.

Trade here 👇 $SOL

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