$SOL short-term MA(7) is below MA(25) and MA(99), indicating a bearish trend. SOL needs to reclaim the $230.62 level to regain bullish momentum. The MACD is currently in the negative zone, suggesting bearish momentum. However, a potential crossover could indicate a reversal.
Short-term trend: Bearish, with price trading below the key moving averages.
Medium-term trend: Neutral, as SOL remains within a range of $224–$230.
Long-term trend: Bullish, with a 133.04% gain over the past year.
Trading Strategy:
Bullish Scenario: If SOL breaks $230.62, it could rally toward $234.76–$238.00.
Bearish Scenario: If SOL drops below $224.83, further downside to $220.00 is possible.
Support & Resistance Levels
Support: The recent low of $224.83 serves as the nearest support level. If this level is broken, the next key support is around $220.00.
Resistance: The $230.62 level (99-period MA) and the $238.89 high act as resistance. A break above $230.62 could push SOL toward $234.76 and beyond.
