- TD Sequential Sell and RSI Warn of Cautionary Momentum: Solana failed to move above the resistance of $152.68, creating a buy signal. RSI also rolled over, signaling short-term fading momentum.
- Making or Breaking Zone: $147148: It is make-or-break territory because bulls will have to defend this area to ensure continuation; a failure to do so may lead to a decline towards $142.
- Deteriorating Liquidity Increases the Risk of Volatility: A decrease of 23 percent in the volume indicates the weakness of the momentum and an increase in the risk of slippage during late spindust waterfalls.
On the 4-hour chart, Solana printed a TD Sequential sell 9 just below the $152.68 swing high. The next candle stalled at the 0.786 Fibonacci retracement near $148.49. This sequence signaled that sellers gained short-term control. Analysts note the sell count can mark trend exhaustion.
Meanwhile, the Relative Strength Index rolled over from overbought levels. The RSI drop suggests growing downside risk. At the same time, volume thinned on each rally attempt. Traders watch momentum closely today. These signals warn of ascending fatigue.
Critical $147 Support Zone
Solana climbed 2.7% to $151.06 today after bulls recaptured the $147 pivot. The market viewed $146.9983 as a key threshold. Buyers defended that line with persistent bids. Market participants monitor bid-ask spreads.
Liquidity is, however, thin. The volume of trades declined by a third, by 23 percent, to 2.44 billion. Downside volume may limit the upside accumulation. The slippage risk can be increased by thin liquidity.
The Fibonacci and the Pullback Levels
Selling pressure may drive the price to the 61.8% Fib at the 142 level if Solana(SOL) is unable to hold the level of 148.50. This point also corresponded with mid-June support. A breakdown would indicate more retracements. Such an action may stimulate stop-loss hunts.
Further pullbacks could test the 50% Fib at $138 or the 38.2% Fib near $136. These levels mark critical zones for bulls. Traders may look for buy orders in that range. Watch for algorithmic sell triggers.
Outlook for Bulls at $147
A precise hold above the $147–148 zone could open the path to $155–$160. Bulls see that range as a base for a fresh leg higher. Thus, reclaiming $152.50 would invalidate the short-term sell signal. Volume confirmation remains crucial.
Conversely, a drop below $146.99 risks a slide toward the key 61.8% Fib at $142. Traders should set stops near $146.50 to limit losses. Ultimately, $147 remains the pivot for this move. Risk managers track exit points. Bullseye the crucial $147 threshold.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
