$SOL

SOL Price Analysis: Key Support Facing Test, Direction Soon to be Clear!

Brothers, the recent market for SOL has been a bit worrying. Since the decline from the 20-day moving average (206 USD) on December 25, market sentiment remains negative. Bears are exerting strong pressure while bulls are struggling to hold their ground; a major move is brewing!

Current Trend: Bears in Control, Focus on Support Line

Upward Trend Line as Key Support: SOL is about to test the upward trend line, which is a short-term key point that must be closely monitored. If the bulls cannot hold this level, SOL may fall further.

Bears Applying Pressure, Sentiment Weak: After breaking below the 20-day moving average, market confidence has been diminished, with bears still dominating the situation in the short term.

Downward Risk: If Support Line is Lost, 155 USD in Sight?

If SOL breaks below the upward trend line, bears will exert further force, targeting a downward goal directly at 155 USD.

155 USD Level: This level may attract buyers as it represents a potential low-buying opportunity, and it is also the lifeline for SOL bulls.

Upward Potential: Could a Rebound Restart Strength?

If SOL rebounds from the upward trend line, it indicates that the bulls still have some strength left, and market sentiment may improve.

After Breaking 20-Day Moving Average (206 USD): The short-term bearish outlook may become invalid, and SOL could see a strong rebound directly aiming for the 50-day moving average (221 USD).

Short Position Opportunity: If Breaking Below the Upward Trend Line, Target for Short Positions can be Set at 155 USD, with Stop Loss Above 195 USD.

Long Position Opportunity: If the price rebounds and breaks above the 20-day moving average (206 USD), long positions may be considered, targeting 221 USD, with a stop loss set below 200 USD.

If SOL Drops to Around 155 USD, it is recommended to gradually accumulate long positions for the medium to long term. This is a strong support area, suitable for patiently waiting for rebound opportunities.

If Breaks Above 221 USD, positions can be gradually increased, targeting higher levels.

Currently, SOL is under aggressive bear pressure, with bulls struggling to hold critical support. The upcoming battle over the upward trend line will determine SOL's short-term direction.