Summary
• SOLUSDT broke key support at $135.00 after a 5.3% pullback and failed to hold above $136.50.
• Volume surged above average during the breakdown, confirming bearish momentum.
• RSI entered oversold territory near 30, hinting at potential for a short-term bounce.
• Bollinger Band contraction in the early session preceded a sharp move downward.
• A bearish engulfing pattern formed near $136.50, signaling potential for further weakness.
24-Hour Summary
Solana/Tether (SOLUSDT) opened at $136.31 on 2025-12-10 12:00 ET, reached a high of $142.57, a low of $129.00, and closed at $130.93 by 12:00 ET on 2025-12-11. The pair saw a total volume of 5,255,843.94 and notional turnover of $681.3 million over the period.
Structure & Formations
The 24-hour chart shows a key breakdown below $136.50, a level that had previously acted as a support-turned-resistance. A bearish engulfing pattern formed near $136.50, reinforcing the shift in sentiment. The price then declined toward a potential support zone between $130.00 and $129.50, where a Fibonacci 61.8% retracement level aligns.
Moving Averages and Momentum
On the 5-minute chart, the 20-period and 50-period moving averages both crossed below the price, confirming the bearish bias. The RSI dipped into oversold territory near 30, suggesting that a short-term bounce could occur, but only if buyers re-enter above $132.50. The MACD line remained below the signal line, with bearish divergence between price and momentum.
Volatility and Volume
Volatility spiked during the breakdown phase, as seen by the Bollinger Bands expanding from a tight contraction. The volume surged sharply during the key breakdown under $136.50 and remained elevated throughout the session, confirming the bearish momentum. Notional turnover spiked to $80M during the $142.57 high, contrasting with the weaker volume during the recovery attempt.
Forward-Looking Outlook
SOLUSDT appears to be in a short-term bearish phase with a likely test of support near $129.50 in the next 24 hours. A break above $132.50 could trigger a rebound, but a failure to hold above $130.00 could invite further downside. Investors should monitor volume and RSI for signs of a potential reversal or continuation.
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