Quick Analysis $SOL ‼️With Weekly Recommendations
1. Moving Averages (EMA):
• The 7-day moving average (yellow line) shows short-term support at $147.68.
• The 25-day moving average (purple line) at $143.58, which reflects some slowdown in momentum.
• The 99-day moving average indicates strong long-term support.
2. Stochastic RSI:
• It indicates a reading of 17.56, which means the market is in an oversold state, a sign that a rebound may be imminent.
3. MACD:
• The DIF at 6.68 indicates the beginning of a recovery, but a negative crossover with the red line (DEA) at 11.37 indicates continued selling pressure.
Recommendations:
1. Critical level: If the price manages to stay above $133.43, there could be a potential rebound towards $147.68.
2. Stop loss: It is preferable to place a stop loss below $125 to ensure capital protection.
3. Close monitoring: Monitor the development of the Stochastic RSI and MACD indicators. In case of a reversal, you can consider strengthening positions or entering new positions.
4. Strategy: Wait for confirmation of the price rebound above $147.68 before entering new positions.
As a cryptocurrency trader, it is important to stay up to date with technical analysis to improve your investment decisions.
This analysis is not financial advice,
