September 19, 2024 [In-depth analysis of SOL currency price trend]
Graphic analysis: Recently, the price of SOL is like a roller coaster, but the overall trend is to climb up. Every time it falls, it can rebound higher. The lows are slowly rising, and the highs are constantly refreshing. On September 15, it fell hard, but it rebounded quickly. There were positive lines for several consecutive days. The power of buying should not be underestimated.
Technical indicators:
MACD: In the 4-hour chart, the fast and slow lines of MACD have a golden cross below the zero axis, and the red columns are also increasing, which shows that the bulls are still quite strong in the short term. On the daily chart, MACD hovers near the zero axis, but there are signs of upward divergence.
RSI: The RSI of the 4-hour chart is 62.194, which is about to touch the edge of the overbought zone, but it has not entered yet; the RSI of the daily chart is around 50, and the market sentiment is neutral to more.
EMA: The current price is firmly above EMA7, EMA30 and EMA120, and EMA7>EMA30>EMA120, forming a long arrangement, which provides support for the upward trend.
Volume: The volume of the 4-hour chart has increased significantly in recent trading sessions, especially after the price broke through 134.387, and the willingness of funds to enter the market is very strong. On the daily chart, the volume on September 18th increased significantly, in sync with the price increase, which further verified the effectiveness of the rise.
SOL's 4-hour price trend: Bullish
[Trading strategy]
Buy opportunity 1: $135 (price pulls back to the previous high, close to the support level of EMA7)
Buy opportunity 2: $130 (if the price pulls back further, it will be close to the low of the previous band, which is also the support level of EMA30)
Long stop loss: $128 (set a little below the low of the previous band to prevent false breakthroughs)
Sell opportunity 1: $140 (close to the pressure level of the integer mark, which is also near the recent high)
Sell opportunity 2: $145 (if the price continues to rise and approaches the next integer mark, there may be strong selling pressure)
Short stop loss: $147 (set a little above the selling point 2 to prevent false breakthroughs)
