$SOL ：Will Trump's presidency bring benefits to the crypto market? It's worth a shot with SOL!
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If you are optimistic about the potential policy benefits that Trump's presidency may bring, you might want to pay attention to the spot layout of $SOL . As one of the most promising cryptocurrencies challenging ETH's position, even if SOL cannot surpass ETH, it has the opportunity to share the market spotlight and become an important player.
Technical Analysis: Daily Patterns and Key Position Analysis
1. Arc Top and Retracement Support Levels
The daily level shows that SOL has formed an arc top pattern. The specific extension position of the arc bottom needs to be further confirmed with other technical indicators. Fibonacci retracement analysis: The 1:1 retracement target is around $173; if this position cannot stabilize, it may further drop to the 1.618 retracement level, around $135. If this level is reached, it will signal the end of the current rebound trend, and SOL may enter a prolonged consolidation period.
2. Wave Theory and Short-Term Trends
According to wave theory, SOL has currently completed a five-wave upward structure and is undergoing a three-wave retracement. This is the natural cycle of the market, where all cryptocurrencies circulate around five upward waves and three downward waves.
3. Key Points on Daily and Hourly Levels
Hourly level target: SOL needs to break through and stabilize above $188 to further bullishly aim for $195, $202, and $211. If it cannot break through, this stage of the rebound is still a buildup for subsequent declines. Daily level support: $175 is the key daily support level. If it falls and closes below this level, SOL will test lower positions, including $163, $152, and $133.
The current adjustment of $SOL has not broken the long-term upward trend. As long as the overall market trend remains bullish, SOL is expected to regain its upward momentum after completing the phase retracement. Whether laying out spots or observing, strict position management and control over key levels are the keys to success.
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