【SOL Market Analysis】
Price trend overview: Recently, the price of SOL has been fluctuating between $130 and $135, forming a small range of fluctuations.
The upper and lower shadows of the candlestick charts on September 17 and 18 are quite long, which shows that the players in the market have different opinions and buyers and sellers are competing with each other.
On the hourly chart, the price has fallen slightly in recent hours, but overall it is still fluctuating within the range.
Interpretation of technical indicators: MACD: The MACD indicator of the hourly chart shows that both the fast line and the slow line are below the zero line, and DIF and DEA are still moving downward, which indicates that the seller's power is relatively strong in the short term.
RSI: The RSI index of the hourly chart is around 43, which is approaching the oversold area, but it has not reached that extreme level, so there may be a chance of a rebound.
EMA: The current price is below EMA7, EMA30 and EMA120, especially EMA7 ($131.182) and EMA30 ($131.736), which are somewhat suppressing the price. There is considerable pressure in the short term.
Volume observation: On the daily chart, the volume reached a peak on September 17, and then fell back, which shows that the buyers and sellers were very active at high levels that day, and now everyone is starting to wait and see. On the hourly chart, the volume is also slowly decreasing, the market activity has decreased, and it may continue to fluctuate in the short term.
[Trading point suggestions]
Buying opportunity 1: $128 (close to the previous low, the integer mark has strong support)
Buying opportunity 2: $126 (if the price goes down further, this position has stronger support and the price difference with buying opportunity 1 is more than 1%)
Long stop loss: $125 (1 dollar below the second buying opportunity to prevent the price from falling below the important support)
Selling opportunity 1: $133 (close to the previous high, there is a lot of selling pressure here)
Selling opportunity 2: $135 (if the price breaks through the previous high, this position will be the next resistance level, and the price difference with selling opportunity 1 is more than 1%) Short stop loss point: $136 (1 dollar above selling opportunity 2 to prevent the price from continuing to rise after breaking through the important resistance level)
SOL's 1-hour price trend: Currently sideways
