December 15th SOL Strategy Analysis
SOL on the 4-hour chart shows an expansion of the Bollinger Bands, with the bands continuing to decline, and the three lines currently located at 138.3, 133.2, and 128. The overall arrangement of the Bollinger Bands on the hourly level is downward.
Observing from the moving average system, the short-term moving average in the 4-hour cycle has turned downward, and the medium to long-term moving averages are also showing signs of weakness, with the price currently seeking support near MA5; on the hourly chart, MA5 and MA10 have turned upwards, and the price is trying to stabilize above MA10.
In terms of technical indicators, the 4-hour MACD is below the zero line, with the fast line flattening and the slow line continuing to decline, but the bearish momentum bars are showing a contraction; the hourly MACD has formed a golden cross below the zero line and has started to release bullish energy. On the RSI indicator, the 4-hour line has formed a golden cross in the oversold area, with values of 17 and 5; the hourly line is in a normal range, with both lines moving upwards, currently reading 71 and 51.
Operational suggestions: short on a rebound to the 133-136 area, targeting down to 127-123.
