Technical Analysis Overview
1. 1-hour candlestick chart analysis
Current price range: around $240-241.
Moving average observation:
MA5, MA10, and MA30 tend to stick together, indicating that there is a need for short-term price consolidation.
The Boll channel opening is small, indicating that volatility has temporarily narrowed and the market has entered a stage of waiting for a breakthrough.
Key Support: The lower support level is around $237.
Resistance pressure: The short-term upper pressure level is at $243, and after breaking through it may look to $246.
2. 4-hour candlestick chart analysis
Trend observation:
The current K-line is above the Boll middle track, indicating that the price is trying to enter a volatile upward trend.
MA5 crosses MA10 upward, and short-term rebound momentum is evident.
Support and Resistance:
Support: $236 (MA10 position).
Resistance: $244 (previous high).
Indicator signals:
The RSI is in the neutral zone (around 50) and has not yet entered the overbought or oversold zone.
MACD slightly formed a golden cross, and the momentum column showed a weak bullish trend.
Predict today's trend
Direction judgment
In the short term, the volatility is strong:
If the price can find effective support in the $237-240 area, it is expected to try to hit $243-244.
If it breaks below $237, it may test the low support of $232.
Operational Strategy
The first support level (profit target 1): US$243 (yesterday's high pressure).
Second support level (profit target 2): $246 (higher pressure level, testing trend continuation).
Stop loss: US$235 (if it falls below this point, it may bottom out further and the risk will increase).
Reasonable entry range: US$238-241.
Long operation suggestions:
Gradually arrange long orders around $240, with targets at $243 and $246.
Set a stop loss below $235 to control risk.
Short position operation suggestions:
If the rebound to $243 fails to break through effectively, you can try to arrange a short order, with the target back to $238 and the stop loss above $246.
Summary
SOL's recent performance is relatively healthy, and yesterday's market has initially broken away from the downward trend.
Today, we will focus on the defense of the $240 support and the possible breakthrough of the $243 resistance.
Forecasted range: USD 236-244.
From the 4-hour level, the upside space can only be opened after breaking through $244; if it falls below $236, it may weaken further in the short term.
Operation summary: tend to arrange long orders at the support level, target a short-term rebound of $243, and gradually reduce positions to lock in profits. Conservative investors can wait and see if the trend becomes clearer.
Pay attention to SOL's technical analysis, lock in key points, follow strategic operations, and obtain greater potential profits!
