$SOL

SOL Price Analysis

The recent trend of SOL has been like a " tug-of-war", with bulls and bears pulling back and forth at key levels. It remains to be seen who will have the last laugh! Let's take a look at the latest trend analysis:

On December 31, SOL briefly stood above the 20-day moving average (199 USD), but the bears firmly defended the resistance level, preventing the price from breaking through further, indicating that selling pressure near the resistance level remains strong.

On January 3, the bulls successfully pushed the price above the 20-day moving average and broke through the key resistance level of 202 USD. This indicates that the bears' strength is weakening, and the bulls are gradually taking control of the situation. If the trend continues to rise, SOL may further increase to the 50-day moving average (220 USD), which will become the next target.

Of course, everyone should also guard against the possibility of a correction:

Risk of falling below the 20-day moving average: If the bears counterattack and the price falls below the 20-day moving average again, and further breaks below the ascending trend line, it will signal the resumption of a downward trend.

Extreme downside target: If the downward trend is established, SOL may directly fall back to around 155 USD, which is an important support area below.

Short-term opportunities: If the price stabilizes at the 20-day moving average or steadily breaks through 220 USD, short-term long positions can be followed, aiming for a higher target.

Cautious operation: If the price falls back below the 20-day moving average, consider waiting for stabilization after a correction before entering the market to avoid the risk of chasing high prices.

SOL is currently at a critical watershed between bulls and bears. If the bulls can hold the breakout, there will be room for further upward movement; if the bears counterattack, the degree of correction should not be underestimated.