36395757916 Coin Update Interpretation and Trading Suggestions

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1. Current Price Situation

The current price of SOL is 208.38. Although we see a slight rebound in price, the pressure above is still significant, and the price is still controlled by sellers. The original support level at 213 can no longer hold, and 210 is just a minor obstacle, unable to stop the downward trend.

2. Technical Indicator Interpretation

Bollinger Bands: The price is currently slightly below the middle line, indicating that the upward force is not strong enough. MACD: Although there are some bullish signs, the histogram still appears relatively weak. Stochastic RSI: This indicator is approaching 95, which means the market is currently buying too aggressively and may undergo a correction.

3. Order Situation

Between 208.5 and 209, there are many sellers waiting to sell, while most buyers are around 207. Therefore, before a significant price increase, it may first drop to 207.

4. Trading Strategy

Short-selling strategy is relatively safe: Look for an opportunity to short between 208.5 and 209, predicting that the price will fall, then sell now and wait to buy back when the price drops. If the price rises above 210.5, then quickly cut losses and acknowledge the prediction was wrong to avoid excessive losses.

If the price drops to 205, then a profit has been made, and one can close the position, which means settling the previous short position. Long strategy carries some risk: If the price drops between 205 and 206 and shows signs of support, such as a sudden increase in trading volume or bullish candlestick patterns, then try to go long, predicting that the price will rise, and buy now, waiting to sell when the price increases. If the price breaks below 203.5, then quickly cut losses. If the price rises to 208.5, then a profit has been made, and one can close the position.

5. Summary

The market currently appears to be a bit overheated, with too many buyers, which may lead to a correction. Therefore, a more prudent approach is to short between 208.5 and 209, targeting 205. Until confirming that 205 is a real support level, it is best not to go long easily.

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