SOL Technical Analysis May 1
SOL is currently maintaining an LH/LL (lower high/lower low) structure within a clear downtrend; bearish momentum dominates unless the latest swing lows are broken. A close above $84.96 is required for an upward structure break (BOS). Market Structure Overview SOL‘s current market structure reflects a clear downtrend on 1D and higher timeframes. Price has abandoned the higher high/higher low (HH/HL) structure in recent weeks, shifting to a lower high/lower low (LH/LL) pattern. This confirms the bearish nature of the trend: each new swing high forms below the previous swing high, while swing lows continue to decline. Current price is at $84.36, positioned below EMA20 ($84.90), giving a short-term bearish signal. RSI at 47.84 is in neutral territory, but MACD’s negative histogram indicates downward momentum. In multi-timeframe (MTF) structure, 1D highlights 3 support/2 resistance levels, while 3D and 1W show less clarity. Overall, the structure has not yet shown a change of character (CHoCH); the downtrend continues. Trend Analysis: Uptrend or Downtrend?Uptrend Signals For an uptrend, the HH/HL structure needs to be re-established. Recently, price tested the $84.86 daily high but failed to confirm it as a new higher high. Potential bullish signals include a sustained close above the $84.9610 swing high followed by a