Long

SOLUSDT - potential reversal 4h TF

If the next candles close green and higher than $191, it confirms that this level is holding as support and could signal a potential reversal.
Long wick + small body = hammer, pin bar or doji?

Lets see how it closes, but this looks very promising step towards reversal!
Will keep you updated.

Note

It closed as a bullish pin bar, but the next red fat candle engulfed it, so the reversal is not confirmed yet.

If we take into account the current 4H candle, there are more than 2 hours left, so it’s not logical to comment on it just yet.

In terms of indicators:
1)MACD is slowly rising, indicating a potential shift in momentum.
2) RSI is at 19 and 17 at the moment of writing this text, which shows extremely oversold conditions.

This could hint at a possible bounce if buyers get in!

Our mission for now is to keep a close eye on the charts. Will update soon! 👀

Note

In terms of levels, as seen on the chart, the critical level to "hold my beer" is at the 176 zone, which is pretty close to the current price of 185.65. ⚠️
Let’s see how the price reacts around this zone if it gets there.

Note

In terms of levels, as seen on the chart, the critical level to "hold my beer" is still at the 176 zone, but right now, SOL is chilling around 190.86. 🧐 The next big resistance is near 200-205, where the EMAs are lurking.

MACD is showing some love with a potential bullish crossover, but the volume... yeah, it’s still pretty mehhh. We need that NY session pump to confirm anything. 📈

Also, don’t forget—today we’ve got significant news dropping, including the Nonfarm Payrolls (Dec) and Unemployment Rate (Dec). ⚡
These will definetely cause some serious volatility across the board, so be ready for sharp moves into the both sides.

Let’s see if buyers can push the price above 200 or if we get dragged back to the 176 zone for a retest. Keep your eyes on the charts! 👀

Expate

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