🎉💥$SOL 🎉💥💥
#WriteToEarnUpgrade Solana (SOL) Market Technical Analysis Report
Currently, the market is in a consolidation phase, but several indicators suggest that the stock price is brewing an opportunity for a rebound from oversold conditions.
1. Volume & Capital Flows
Selling pressure exhaustion: It has been observed that during the decline, trading volume significantly shrank (from 94.5M to 31.3M). This usually means that selling pressure has been fully released, and the market is entering the tail end of a 'low-volume decline'. $SOL
Net outflow slows: Although the medium to long-term capital flow shows a massive outflow (1.34 billion outflow in 24 hours; 9.67 billion outflow in 7 days), the recent outflow slope has started to flatten, indicating that capitulation selling may be approaching its bottom.
2. Price Action
Support confirmation: After the price broke below 121.02 (weekly low), it quickly recovered, and then formed a higher low at 125.81, which is a preliminary signal that the trend may be reversing from a technical perspective.
Trend channel: It should be noted that the current price is still operating within a descending channel since the high point of 244.0.
3. Trading Setup
For the current trend, a cautious bullish strategy (mainly focusing on short-term positions/Scalp) is recommended: project parameter settings
Operation direction: Cautious Long
Entry range: 125.80 - 126.50
Stop loss (SL): 123.00
Take profit target (TP): 138.00 (recent key resistance level)
