The 1-hour and 4-hour K-line charts of SOL, combined with technical indicators and recent trend situations, below is my analysis and trading strategy for SOL's market price today:

I. K-line Technical Analysis

Short-term (1-hour K-line):

Trend Situation:

  • SOL has formed short-term support around 218, and recent pullbacks have not broken this level.

  • Recently, the price quickly surged to around 227, but has shown signs of a pullback due to BOLL upper band resistance.

  • Moving Average System: MA5 and MA10 are turning down, indicating a weak oscillation in the short term.

  • The BOLL channel's opening is narrowing, indicating that the price may continue to oscillate and consolidate in the short term.

Support and Resistance:

  • First Support Level: 218 (yesterday's support low point)

  • Second Support Level: 215 (a stronger support range)

  • First Resistance Level: 223 (near BOLL middle track)

  • Second Resistance Level: 227 (yesterday's high point, short-term resistance level)

Medium-term (4-hour K-line):

Trend Situation:

  • After falling from a high of 264, SOL has oscillated and consolidated multiple times in the 210-220 range.

  • Currently, the K-line is operating below the middle track of BOLL, and short-term rebounds are constrained by pressure around 223.

  • Moving Average System: MA5 and MA10 are converging, MA30 is slightly pressing down, indicating that the overall market remains weak.

Key Indicators:

  • DPO Indicator: Showing a downward trend, indicating insufficient rebound momentum in the short term.

  • Trading Volume: Continues to shrink, with a strong wait-and-see sentiment, caution is needed for further bearish probing.

II. Today's Trading Strategy

Overall Thought: SOL maintains an oscillating pattern in the short term, suggesting high selling and low buying, primarily focusing on range trading to guard against breakout risks.

First Support Level: 218

  • Trading Suggestion: If the price falls to around 218, consider entering long with a light position, targeting the 223-225 range, with a stop-loss set at 215.

Second Support Level: 215

  • Trading Suggestion: If it breaks below 218 and touches 215, consider adding positions or buying low, with a target rebound towards 220-223.

First Resistance Level: 223

  • Trading Suggestion: If it rebounds to 223, short-term holders can reduce positions or take profits and watch, to prevent a pullback.

Second Resistance Level: 227

  • Trading Suggestion: If SOL strongly breaks through 223 and holds, it may target around 227, waiting for a pullback to confirm long positions.

Stop-Loss Level: Below 215 (to prevent breaking key support, which may trigger downside risk).

Today's overall trend for SOL is biased towards oscillation and consolidation, with short-term support at 218 and resistance at 223. If it breaks below 215, caution is needed for a drop to around 210. The trading suggestion is to sell high and buy low, flexibly respond to market oscillations, and be sure to set stop-loss and take-profit to guard against unexpected market conditions.
Currently, the market sentiment for SOL is heavy with uncertainty, lacking signs of a volume breakout, and it may oscillate repeatedly around the 218-223 range in the short term. If the bulls can successfully hold above 227, there is hope to gradually approach the 230-240 area. Conversely, if it breaks below the 215 support, caution is required for potential downside risks.

Directional Suggestion: Short-term oscillation is biased towards long, focusing on high selling and low buying.
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