From the chart, it can be seen that after a rapid decline, the SOL price stabilized and rebounded around 175.20. The current price is at 200.55, and the short-term bullish strength is gradually taking the lead. The following is the technical indicator analysis:

  1. BOLL indicator:
    The current Bollinger Bands channel for SOL is slightly inclined upwards, with prices operating between the middle and upper bands, indicating that the market maintains a rebound trend in the short term. The upper resistance level is atnear 205, with support below at195.

  2. Moving Average System (MA):

    • The 5-day moving average (198.17) has crossed above the 10-day moving average (197.01), forming a golden cross in the short term, continuing the bullish trend.

    • The long-term moving average (30-day moving average) is around 193.5, forming strong support.

  3. KDJ indicator:
    The KDJ indicator is currently in the overbought area (K=79.67, D=72.32), and there may be short-term pullback pressure. However, if the volume continues to increase, there is still room for continuation of the rebound.

  4. Trading volume:
    After the bottom volume increased, the current trading volume remains relatively stable, showing that the market's rebound momentum has not yet been exhausted, but caution is needed as insufficient volume may trigger a rise and fall.

Short-term direction forecast:
SOL may continue the rebound trend, attempting to break through the 205-210 pressure range. If it fails to break through, it may pull back to around 195 to gather strength. The overall trend is mainly oscillating upward, pay attention to changes in volume and key levels.

Key levels:

  • First support level: 198

  • Second support level: 195

  • Upper pressure level: 205

  • Breakthrough target level: 210

Operation strategy

  1. Short-term long strategy:

    • Entry position: Lay out long positions in the 198-195 range, with a stop loss set below 193, targeting 205-210.

    • Add position strategy: If the price breaks above 205, along with increased trading volume, a light position can be added, looking towards the 210-212 range.

  2. Oscillation strategy:

    • In the 195-205 range, buy low and sell high. Specific operations should be combined with real-time trading volume and market sentiment. Do not blindly chase high prices.

SOL is currently in a rebound channel, with bulls slightly in advantage, but facing resistance, a pullback may occur before another attempt to rise. Today's expected volatility range is between 195-210, with a fluctuation of about 15 points, leaning towards a mainly oscillating upward trend in the short term.

Investors should pay attention to the pressure level near 205 above and the support strength at 195 below, choosing entry points based on market volume. Overall operation advice is to maintain a light position to prevent the risk of chasing high prices due to significant market changes.

Stay rational, do not rush in easily, more opinions are welcome for discussion!
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