SOL Afternoon Thoughts
Current price 126, the 4-hour chart shows that after hitting the peak of 140, SOL's momentum has completely exhausted, leading to a dramatic decline. It has significantly fallen below the lower Bollinger Band, with all technical indicators pointing to an extreme bearish market. The short-term trend has completely shifted to a crash mode.
The DIF line and DEA line have formed a 'death cross' below the zero axis, and the negative MACD histogram has lengthened again. This confirms the strong position of bearish momentum, and the downtrend is very stable, showing no signs of a bottom. The K and J values have both entered the extreme oversold zone, reflecting that the market has declined too much and too quickly in the short term, indicating a need for a technical rebound.
Operation Suggestions
Enter short at 129-133, stop loss above 132, target towards 120$SOL
