SOLUSDT analysis
2024-11-26

1-Hour Timeframe: 
Ichimoku Cloud: The price is below the cloud, confirming a bearish trend.
The cloud acts as strong resistance near $244–$246, making it a critical level for any upward movement.

Current RSI is 38.20, suggesting the market is near oversold territory, which could lead to a short-term bounce.
MACD Bearish momentum persists, with no clear bullish crossover in sight.

Stochastic RSI: Overbought at 78.31, indicating a potential short-term pullback or continuation of the downtrend.

ATR at 3.82 suggests moderate short-term volatility, making tight stops feasible.

 4-Hour Timeframe: 
Ichimoku Cloud: The price remains below the cloud, confirming a bearish trend on the larger timeframe.
Resistance aligns near $250, with significant downside potential if the trend continues.

RSI is at 40.42, showing weak buying momentum. There's room for further downside before becoming oversold.

The MACD histogram shows strong bearish momentum, with no reversal signal yet.
Stochastic RSI:

Oversold at 7.38, suggesting a limited downside in the immediate term but no confirmation of a bullish reversal.
ATR at 7.40 indicates higher volatility on this timeframe, suitable for wider stop-loss levels.