On October 3, 2024, Lao A conducted research on [4-hour $SOL price trend analysis].
K line shape analysis:
The recent K-line chart of SOL shows a clear downward trend. In particular, the large negative lines on October 1 and October 2 clearly reflect the greater selling pressure in the market. However, on October 3, the price rebounded to a certain extent, but overall it was still in a low and volatile state.
Interpretation of technical indicators:
As far as MACD is concerned, the current histogram is in the negative zone, and the DIF line and DEA line continue to diverge downwards, which shows that the short forces are currently dominant. The value of RSI is currently around 35, which is close to the oversold range, which may indicate the need for a technical rebound in the short term. In addition, the EMA shows that the price is currently below EMA7, while EMA30 and EMA120 are forming pressure above, and the short-term moving average and the long-term moving average form a cross, further confirming the downward trend of the price.
Volume observation:
From October 1st to October 2nd, trading volume increased significantly and was accompanied by a decline in prices, indicating that the selling sentiment in the market was relatively strong. On October 3, trading volume decreased, which may indicate an increase in wait-and-see sentiment in the market, or a short-term stabilization signal.
SOL's 4-hour price trend: The price is currently trading sideways.
Suggestions for buying and selling points:
The first buying point is recommended to be 135 USDT, which is close to the previous low, and the round number mark may form support. The second buying point is set at 130 USDT. When the price further drops to a stronger support area and is close to the historical low, you can consider buying. To prevent the risk of a deep correction, the long stop loss point is set at 128 USDT, which is an important support level after falling below the buy point two.
For the selling strategy, the first selling point is recommended to be 150 USDT. This price is close to the pressure range of EMA30 and EMA120, and the integer mark may form resistance. If the price breaks through this level and continues to rise, the second selling point can be considered to be set at 155 USDT, which is close to the previous high. To avoid a trend reversal, short selling stops should be set at 157 USDT, the key resistance level beyond sell point two.
The above analysis is intended to provide reference. Actual transactions require decision-making based on market dynamics and risk tolerance.
