SolUSD : Technical forecast during the day for one hour
Solana (SOL) is testing a crucial intraday decision zone on the 1-hour time frame after a sharp rejection from its recent retracement high. The price is hovering around $74.18sitting near the rising support trend line and above the major horizontal support at $73.30.
Below is a detailed breakdown of the technical setup, key levels and executable intraday trading scenarios.
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1. Price action and structural collapse
- Rising Wedge/Rising Support Breakdown: SOL saw a sharp pullback after exploiting nearby resistance $77.50 (bounded by the upper cyan trend line). It is currently breaking below the short-term uptrend line (red support line).
- Critical Floor ($73.30): A nearby horizontal support area is highlighted $73.30 (brown line) serves as the primary line of defense. Collapse below this level completes the local low structure.
- Total Band Resistance ($78.90): The upper supply remains limited at the strong horizontal resistance area around it $78.90 (dashed gray line), which rejected price advances several times between July 21 and July 23.
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2. Analysis of technical indicators (1-hour time frame)
- Relative Strength Index (RSI – 14):
- RSI value: It is located in the bearish zone at 33.81 (Below the signal line at 49.71).
- Oversold conditions: It is approaching the oversold zone (<30), indicating that the immediate downside momentum has extended and that a short-term bounce or consolidation may be near.
- MACD (12, 26, 9):
- MACD line/signal: It crossed below zero with the MACD line at -0.25 Opposite the signal line in -0.25.
- Chart: Printing expanding red bars, reflecting accelerating short-term downward momentum.
- Size profile: Trading volume increased during the last hourly red candle, indicating increased selling pressure near the breakout point.
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3. The main levels of viewing
- Instant support: $73.30
- Secondary support/nullification goal: $71.50 – $72.00
- Immediate resistance (breakout retest): $75.20 – $75.50
- Secondary resistance: $77.50
- Main range ceiling: $78.90
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4. Actionable trading scenarios
Bearish scenario (continuing collapse):
A clear hourly candle closes at the bottom $73.30 It confirms the breakdown of the recent consolidation area, opening the way for deeper intraday targets.
- entrance: Sell on a confirmed hourly close below $73.30 or on a weak retest at $75.00.
- Objective 1: $72.00
- Objective 2: $70.50
- Stop loss: Above $75.50
Bullish scenario (stability support and rebound):
If buyers defend $73.30 Horizontal support and recovery of the lost trend line above $75.20A comfortable rally towards the recent swing highs is expected.
- entrance: Buy on confirmation of the bounce at $73.30 with an upward divergence of the Relative Strength Index (RSI), or when it reclaims $75.20.
- Objective 1: $76.80
- Objective 2: $78.90
- Stop loss: Under $72.80
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summary:
SOL/USD is at a turning point during the day. Hold above $73.30 An oversold bounce may be allowed, but failure to maintain this horizontal support will likely result in an acceleration towards $72.00 And less.
