Spot Long Position

Underlying Asset: SOL

Direction: Long

Opening Price: 235--220---200 staggered layout

Average Price around 220

Take Profit 250--265--280

1. Currently, SOL is encountering resistance around 245 and retracing, with support at around 220. Based on the daily indicators indicating a need for correction, there is an initial trend forming a consolidation range between 220 and 250.

2. On the hourly level, a converging triangle is gradually forming through the trendlines, and the support and resistance positions of the trendlines coincide with the previously mentioned consolidation range.

3. Until the downward trendline is broken, it is considered a downtrend, while the rise earlier today is a continuation pattern within the downtrend. However, the larger trend remains an uptrend. Therefore, there is a demand for short-term pullback and consolidation.