SOL market analysis:
Observing the MACD indicator of SOL, at the daily chart level, its fast line is gradually approaching the 0 axis and is expected to break upward, but it has not yet completely crossed. Therefore, the trend in the next few days will be crucial. If SOL can maintain a volatile upward trend or at least not fall below the key support, it is expected to maintain its positive trend.
The day before, SOL showed a strong trend, successfully breaking through the 30-day moving average in a way of one yang through three, and forming an N-shaped structure. Similar to Ethereum and other currencies, if SOL pulls back to the neckline, that is, the $140 to $142 range (this range is also the intersection of the 5-day moving average and the neckline), it may be a good opportunity to cover or enter a position. However, if the price falls below $138, you should quickly stop loss and leave the market to avoid unnecessary losses.
Yesterday, SOL encountered some selling pressure, and the upper shadow of the K-line began to fall after touching $152.5. Nevertheless, the neckline still provides strong support. We hope that SOL will not fall below the key support as easily as before, because once it breaks, it will have an adverse impact on the bulls. In this case, decisive action should be taken to stop losses in time to avoid risks.
