SOL Daily Chart Analysis — Weak Correction Seeking Support
Resistance Levels
• First Resistance: $132.5-133.0 (MA10 + recent rebound high, short-term selling pressure zone)
• Strong Resistance: $136.0-137.0 (MA20 + previous consolidation platform, medium-term key resistance)
Support Levels
• First Support: $127.0-127.5 (recent consolidation low, short-term bullish defense line)
• Strong Support: $116.5-117.0 (previous correction low, critical defensive position)
Technical Indicator Interpretation
1. Moving Averages: Short- and medium-term moving averages (MA5/MA10/MA20/MA30) are in a bearish alignment. MA5 has crossed below MA10, forming a weak death cross, indicating the medium-term bearish trend remains unchanged; short-term moving averages are showing signs of flattening, with price trapped between short- and medium-term MAs, waiting for a direction.
2. MACD: The two lines have formed a death cross below the zero axis, with the red histogram turning green and continuing to expand, indicating bearish momentum is regaining dominance, while bullish rebound momentum is insufficient.
3. RSI: The current reading is 40.67, in a neutral to slightly bearish zone. The indicator is oscillating at low levels, market sentiment is cautious. Although there is a need for a rebound from oversold conditions, volume support is lacking.
4. Volume: During the correction, volume remains low. No significant volume increase on rebound candles, and volume is consistently below MA5/MA10 average lines, indicating the market is dominated by internal capital battles, lacking new capital influx.
5. Bollinger Bands: The bands are continuously narrowing, with the upper band turning downward and the lower band flattening. Price is trading below the middle band, indicating a clear consolidation pattern. The middle band at $130.0 is a key level for short-term bulls and bears to contest.
Summary
SOL is in a weak correction phase seeking support on the daily chart. The bearish alignment of moving averages and insufficient volume restrict upward movement. The current price approaches recent consolidation lows, making the stability of support levels crucial for future direction. The market is at a critical point of bullish and bearish forces, and without clear volume-based stabilization signals, the weak consolidation pattern is unlikely to change. #特朗普取消对欧关税威胁