$SOL SOL/USDT on a 4-hour timeframe. Here's the analysis for the next 12 hours:
1. Key Indicators:
MA (Moving Average):
MA(7): 224.98 (price has broken above this level).
MA(25): 217.48 (still supporting the uptrend).
MA(99): 194.89 (long-term trend remains bullish).
RSI (Relative Strength Index):
RSI: 74.92 (in overbought zone, potential for minor correction or consolidation soon).
MACD:
Positive histogram widening (indicating strong bullish momentum).
MACD line (DIF) is above the signal line (DEA), supporting the bullish trend.
2. Key Levels:
Resistance:
242.33 (recent high, an area to test strength).
Support:
224.91 (MA7, nearest protection zone if the price corrects).
212.10 (24-hour low, strong support if further decline occurs).
3. Entry Strategy:
Entry Buy:
Wait for the price to pull back to the 224–226 zone (MA7 support) for confirmation of support holding.
Entry Sell:
If the price fails to break through the 242–245 resistance, consider short selling at this area with a target of 230.
4. Stop Loss (SL):
For buy, set SL below 222 (beneath MA7 and nearest support).
For sell, set SL above 246 (above the latest resistance).
5. Conclusion:
Main Bias: Bullish as long as the price remains above MA(7) and MA(25). However, watch out for the overbought RSI, which could trigger a minor correction.
Bullish Scenario: A strong breakout above 242.33 with high volume could open the way to 250+.
Bearish Scenario: If the price falls below 224, the trend could weaken toward 212 or lower.
Use this strategy while managing risks according to your trading profile.