a. Bollinger Bands (BB):
Current situation: SOL/USDT price is touching the upper Bollinger band (268.82). This indicates a possible short-term overbought trend.
Interpretation: When price touches or breaks above the upper band, one of two scenarios usually occurs:
Sustained Breakout: If price breaks out on strong volume, it may start a longer uptrend.
Pullback: If volume is weak, it is likely to pull back towards the moving average (243.82) or even the lower band (226.93).
b. MACD (Moving Average Convergence/Divergence):
Reading: The MACD line (orange) is slightly below the signal line (blue), with a negative histogram (-0.47). This suggests that the bullish momentum could be weakening.
Trend: If the bearish crossover is confirmed and the divergence between the lines widens, we could see a correction to lower levels.
c. Stochastic RSI:
Reading: The value is at 60.52 for the blue line and 58.13 for the orange line, both close to the overbought zone but not at extreme levels.
Interpretation: If the Stochastic RSI breaks above 80, it could confirm an exhaustion of the bullish trend. However, there is still room for upward movements.
d. RSI (Relative Strength Index):
Reading: With a value of 65.48, the RSI is in a zone close to overbought (70).
Interpretation: This confirms the bullish momentum, but warns that the price is approaching a possible exhaustion level.
e. Fibonacci Retracement:
The key levels are:
Resistances: 264.15 (recent high) and 259.56 (current level).
Supports: 250.79 (23.6%), 243.82 (38.2%) and 234.30 (50%).
Interpretation: If the price turns down, the levels of 250–243 will be crucial to avoid a further decline. If it breaks the resistance of 264, it could continue towards higher levels.
2. Analysis of the Order Book:
a. Demand vs Supply:
Demand (63.64%) > Supply (36.36%): This shows clear buying pressure, which is positive for the uptrend.
Key areas:
In Demand: There is strong accumulation at levels of 250, 257 and 259, indicating that buyers are interested in these prices.
On offer: There are important barriers at 260, 261 and 262, which could act as resistance in the short term.
b. Market depth:
Highlighted demand:
Key levels are 259 (19,671 orders) and 250 (71,898 orders). This suggests strong support at 250.
Featured Offer:
Strong resistances at 260 (13,568 orders) and 261 (25,891 orders). These are areas where sellers are positioned and can slow down the price.
c. Interpretation:
Short-term: The price is likely to range between 259 and 261 as buyers attempt to break the resistance. If the buying pressure eases, the price could retreat towards the support of 250.
Possible bullish scenario: If the price manages to break the resistance of 261 with volume, it could test levels of 264–268.
Possible bearish scenario: If the price fails to break above 261 and the volume decreases, sellers could take control and push the price towards 250 or even 243.
Conclusions and Strategies:
1. Short term:
Consider monitoring the volume at levels of 259–261. If the buying volume increases, you could enter a bullish trade targeting 264–268.
If the price breaks below 257 strongly, you could look for buying opportunities near 250 (key support).
2. Key confirmations:
Bullish signal: A break of 261 with volume above 5 million.
Bearish signal: If the price falls below 250 with a clearly negative MACD.