SOL, after a continuous weakening, found effective support around the 117 level, and the price quickly rebounded above 120. The temporary downtrend has been alleviated for now, and the short-term bearish decline has basically come to an end.
However, from the overall structure, the bearish pattern has not been broken, and the current rebound is more of a technical correction.
In the short term, the price rebounded near the four-hour midline and faced obvious resistance. Trading accordingly still requires patience, and chasing the rally should be avoided. Strategically, focus on the rebound strength in the 128–130 area. Until a clear breakout occurs, maintain a primarily short-selling approach, with the lower target looking towards the 120 level. $SOL #SOL$SOL
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SOL, after a continuous weakening, found effective support around the 117 level, and the price quickly rebounded above 120. The temporary downtrend has been alleviated for now, and the short-term bearish decline has basically come to an end.
However, from the overall structure, the bearish pattern has not been broken, and the current rebound is more of a technical correction.
In the short term, the price rebounded near the four-hour midline and faced obvious resistance. Trading accordingly still requires patience, and chasing the rally should be avoided.
Strategically, focus on the rebound strength in the 128–130 area. Until a clear breakout occurs, maintain a primarily short-selling approach, with the lower target looking towards the 120 level. $SOL #SOL$SOL