Today's technical analysis

  1. 4-hour chart:

    • Moving Average System：
      MA7 (short-term moving average) is currently around 202, with significant downward pressure, indicating that the price is still running below MA7, showing strong bearish strength in the short term.
      MA30 and MA100 both form a bearish arrangement, indicating a bearish trend in the medium to long term.

    • Candlestick Pattern：
      After quickly rising to 199-200 range following a drop to 187 yesterday, the price has rebounded. Although there is a short-term rebound, the strength is limited and there is obvious resistance above.

    • MACD：
      The MACD indicator is trying to form a golden cross at a low level, with the histogram gradually shortening from green, indicating that the bearish strength has weakened, but the bullish trend has not significantly strengthened.

  1. 1-hour chart:

    • Bollinger Bands：
      Lower support is near 193, upper resistance is near 203, and the current price is running near the middle band (198.75).
      Bollinger Bands have not significantly expanded, and the short-term fluctuation pattern may continue.

    • Trading Volume：
      The volume increased during yesterday's decline, and decreased during today's early rebound, indicating cautious market sentiment and insufficient bullish confidence.

  2. Based on yesterday's trend：
    The price dropped rapidly from 228 to 187 yesterday, indicating strong bearish control. Currently rebounding to the 200 mark, a continuation of short-term fluctuations is expected, with support to watch at 193-187 and resistance to watch at 203-208.

Today's trading suggestion

Short-term trading suggestion (sell high, buy low)

  • Short sell entry:

    • Entry range: 201-203 (near upper resistance zone)

    • Take profit level 1: 195

    • Take profit level 2: 190

    • Stop loss level: 206

  • Long entry:

    • Entry range: 193-195 (near Bollinger Bands lower support)

    • Take profit level 1: 200

    • Take profit level 2: 205

    • Stop loss level: 190

Today's SOL trend is expected to continue the bearish fluctuation pattern with limited rebound strength. The operation should mainly focus on shorting during rebounds, while trying long positions with light positions when there is support at lower levels. The upper resistance is at 203-208; if the price breaks above 208, the bearish trend may weaken; support below is at 187-193, and breaking below 187 may accelerate the decline further.

Don't be misled by short-term fluctuations. Brother Tang teaches you to set goals, proceed step by step, and witness the explosive growth of wealth with a smile! Follow Brother Tang and transition from confusion to freedom!
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