12.04.SOL Market Analysis and Trading Suggestions
From the hourly chart of SOL, a small double bottom pattern has formed, which is usually an important signal for market reversal. 135, as a key support level that has not been broken after multiple tests in the past, is undoubtedly significant. Additionally, this position is close to the 50-day moving average of 137.5, creating a dual support structure of "price support + moving average support," which further enhances the support strength in this area.
In terms of technical indicators, the RSI has risen from the oversold area to around 45, indicating that the market's oversold condition has alleviated, and bullish strength is gradually increasing. The MACD line has produced a golden cross signal, which is a clear sign of short-term bullish momentum recovery, suggesting that the downward momentum is gradually weakening.
It is recommended to position long orders around 135, with a target aimed at 140 - 142 USD.
