The latest technical review of SOL is here. Last night, the price dipped to around 134, touched the 4-hour MA30 support, then rebounded to 137. Currently, it is in the retracement and upward correction phase after a decline, with the key point being whether it can hold above the MA5; otherwise, further decline is possible.
**Technical Analysis**
The 4-hour chart is currently in a retracement upward phase. The Bollinger Bands are narrowing, with the upper band descending, the middle band ascending, and the lower band also rising, corresponding to price levels at 141, 137, and 133 respectively. Although bullish volume is weakening, the upward momentum remains. In comparison, the 1-hour chart shows increasing bullish volume, indicating a short-term possibility of further upward movement.
Regarding moving averages, the 4-hour MA5 and MA10 have already experienced a death cross and are trending downward, with the candlesticks between the two moving averages. Conversely, on the 1-hour chart, the MA5 and MA10 have formed a golden cross and are trending upward, with the candlesticks above the moving averages. This structural difference suggests short-term bullish momentum.
The MACD provides clearer insight: the 4-hour MACD is below the zero line but bearish momentum is weakening significantly; the 1-hour MACD has already crossed above zero, with bullish momentum accumulating. On the RSI indicator, the 4-hour is in the oversold zone (7-3) and is forming a golden cross upward, while the 1-hour is in the overbought zone (87-75) and has a death cross downward, offering good short-term trading references.
**Trading Strategy**
The overall outlook is a range-bound upward trend.
**Short-selling suggestion**: Open positions around 141, take profit at 139 first, then at 137. **Long-position suggestion**: Enter around 135, take profit at 137 first, then at 139.
The key will be whether the price can effectively break through 142; if it cannot, it may test support levels again downward.
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NotFinancialAdvice
· 01-10 02:13
It's the same old story, MA death cross and golden cross back and forth. If 142 doesn't break through, I'll go all-in on short positions directly.
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AllInAlice
· 01-09 14:58
142, that key level is really tough to crack. I think it's better to go in around 135, more secure.
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SmartContractWorker
· 01-08 03:03
134 rebound from the bottom, this wave doesn't seem that simple. With such weak volume, can it hold steady?
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MemeCurator
· 01-08 02:55
It's the same trick again, buying the dip at 135 and dumping at 142. Isn't that how the market works...
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rugpull_ptsd
· 01-08 02:50
If 142 can't break, then we're still just moving within the range. To be honest, this wave of the market has been a bit tug-of-war.
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GateUser-373a3700
· 01-08 02:44
The top two trash meme coins have fallen to nothing. They still manage to rise—can they really manipulate the market?
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BTCWaveRider
· 01-08 02:35
Can this MA5 hold steady this time? It feels a bit risky. Around 135 is indeed a good place to take a chance, but I'm just worried it might drop again.
The latest technical review of SOL is here. Last night, the price dipped to around 134, touched the 4-hour MA30 support, then rebounded to 137. Currently, it is in the retracement and upward correction phase after a decline, with the key point being whether it can hold above the MA5; otherwise, further decline is possible.
**Technical Analysis**
The 4-hour chart is currently in a retracement upward phase. The Bollinger Bands are narrowing, with the upper band descending, the middle band ascending, and the lower band also rising, corresponding to price levels at 141, 137, and 133 respectively. Although bullish volume is weakening, the upward momentum remains. In comparison, the 1-hour chart shows increasing bullish volume, indicating a short-term possibility of further upward movement.
Regarding moving averages, the 4-hour MA5 and MA10 have already experienced a death cross and are trending downward, with the candlesticks between the two moving averages. Conversely, on the 1-hour chart, the MA5 and MA10 have formed a golden cross and are trending upward, with the candlesticks above the moving averages. This structural difference suggests short-term bullish momentum.
The MACD provides clearer insight: the 4-hour MACD is below the zero line but bearish momentum is weakening significantly; the 1-hour MACD has already crossed above zero, with bullish momentum accumulating. On the RSI indicator, the 4-hour is in the oversold zone (7-3) and is forming a golden cross upward, while the 1-hour is in the overbought zone (87-75) and has a death cross downward, offering good short-term trading references.
**Trading Strategy**
The overall outlook is a range-bound upward trend.
**Resistance levels**: 138, 140, 142
**Support levels**: 136, 134, 131
**Short-selling suggestion**: Open positions around 141, take profit at 139 first, then at 137.
**Long-position suggestion**: Enter around 135, take profit at 137 first, then at 139.
The key will be whether the price can effectively break through 142; if it cannot, it may test support levels again downward.