[Spot Strategy] SOL Trading Plan (valid within three days):
Buy near 178-179, take profit at 198 and 210, stop loss at 165.
Regarding the SOL/ETH trading pair breaking through the highest point of the daily and weekly lines, I looked at the historical data and it is infinitely close to the historical high of 0.0591 in mid-March. This is related to the recent strong performance of sol, while eth is negatively affected by the net outflow of ETF funds. Next, they may face the problem of value return, that is, sol stagnates or pulls back, and eth rebounds or makes up for the rise. The second possibility is that sol breaks through the historical high, and will maintain a strong trend in the medium and short term, and eth faces the situation of being sucked blood. Here is also a share of the technical analysis of sol:
①, SOL weekly level is currently testing the resonance resistance of the upper track of the Bollinger band and the downward trend line. This is also near the March bull market high of 205-210. The KDJ indicator shows that the current golden cross state is conducive to the continued rise of the currency price, but the J value is already in the oversold area. There may be a need for correction after testing the resistance in the future market.
②. At the daily level, the SAR indicator shows that it is currently running in a bullish trend. Only if it falls below the reversal point of 172 will the recent trend change; but the VOL trading volume shows that since March this year, it has continued to shrink, and the trading volume has become lower and lower. The current round of currency prices has hit a new high since early April. If it tests the high before March, it will face a situation of volume-price divergence, and there will be a need for a callback later.
③. The four-hour level is running in an ascending wedge. At present, it faces the upper rail resistance of the wedge, which is around 198 in the short term. And the callback amplitude is small after the 9-turn signal of td appears, but it has risen significantly. It is expected that it will be under pressure and callback in the upper resistance area next. The short-term support is near the lower rail 178, which will be a good buying opportunity.
