SOL's recent performance is probably one of the worst among the large-cap currencies. The summary of it is: it rises slowly and falls sharply. It is currently in a downward channel. If it does not break through, the bullish flag may become invalid. No matter how the market goes or what the expectations are, the market has already moved out, and we just need to follow the market. In the short term, the profit and loss ratio of high-altitude is obviously greater than that of low-long.
Several locations that need attention
Support position
The first position is 208 (already tested once, the second test needs to observe the price behavior)
Second position 192-196
Third position 178
Resistance Position
First Position 227
Second Position 234
Third Position 242
In trading, it is important to go with the trend, follow the big and counter the small. When the trend comes, just ride the wave, and when the situation changes from favorable to unfavorable, be flexible to adjust. Resisting the trend is like a mantis trying to stop a car, disrupting your mindset and trading rhythm.
At night, as U.S. stocks fluctuate, if you encounter too much volatility, remember to take profits frequently and cut losses decisively; holding onto positions is meaningless.
If you have any interpretation of market trends for other cryptocurrencies or questions about trading, feel free to leave a comment.
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Wishing you successful trading. Thank you!