K-line chart analysis shows that SOL has demonstrated a strong rebound momentum recently, rebounding from the $155 line to $264, and then undergoing a wave of adjustment, closing near $231 yesterday. Below is a detailed analysis of the recent technical charts:
4-Hour Level:
The moving average system shows a bearish arrangement of MA(5) < MA(10) < MA(30), with downward momentum dominant in the short term.
The previous high of $264.64 has become strong resistance, and the recent price has retreated to run near MA(30).
The RSI indicator has entered the neutral zone, indicating a tug-of-war between bulls and bears, with no clear direction yet.
1-Hour Level:
The K-line rebounded after reaching the low of $221.71 yesterday, but the strength was weak, and bulls failed to effectively break through key resistance.
Trading volume has shrunk, indicating a heavy wait-and-see sentiment in the market, which requires attention to whether a breakout signal appears.
Today's Trend Prediction
Based on yesterday's pullback performance, today's SOL may operate in a weak oscillation range, requiring attention to the following points:
First Take Profit Level: $236
If bullish rebound momentum continues, $236 is an important pressure level for the day. It is recommended to take profit at this position to avoid excessive chasing.Second Take Profit Level: $245
If it breaks through $236 with volume, then $245 is the key pressure level above, and the breakthrough needs to be accompanied by further increase in trading volume.Stop Loss Level: $224
The support level below is around $224. If it breaks this level, short-term stop loss should exit to prevent further downside risk.
Trading Strategy
Long Position Strategy:
If the price pulls back to the $227-229 area and stabilizes, consider a light long position, targeting $236, and take profit in batches at $245 after a breakout.
Be sure to set the stop loss at $224 to avoid losses from a failed rebound.
Short Position Strategy:
If the price rebounds to the $236-238 area and meets clear resistance, consider setting a short position, targeting $230, and if broken, looking at $224.
Wait-and-See Strategy:
If today's price does not break through $236 and continues to oscillate, consider waiting for clearer direction.
Technical Analysis Logic
Moving Average Suppression:
Short-term MA(5) and MA(10) moving average suppression is significant, indicating a bearish market sentiment with limited rebound height.MACD and RSI:
MACD fast and slow lines run below the zero line, showing that bearish momentum still exists, but RSI has not entered the oversold zone, indicating a short-term focus on oscillation and repair.Key Support:
The previous low of $221.71 is a key support level. If it breaks, it will enter a deeper adjustment area.
Summary and Direction Suggestions
SOL's trend today is biased towards oscillation, and the short-term operation suggestions are as follows:
Bulls focus on low buying opportunities in the $227-229 area, targeting $236, and if broken, looking at $245.
Bears focus on the resistance at $236; if obstructed, consider shorting, targeting the $230-224 area.
Risk Control: Strictly set stop loss at $224 to avoid being passive.
SOL's recent trend is still mainly focused on repair, but in the medium to long term, it is still optimistic about its performance among mainstream coins. It is recommended to watch more and act less during operations, waiting for key point direction choices before increasing positions.
Mr. Qian has been deeply involved in the cryptocurrency circle for many years, and I understand the preciousness and rapid changes of market opportunities. To help everyone seize every opportunity in the rapidly changing market, Mr. Qian will continue to provide you with the latest market analysis and professional trading strategies.
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