SOL Strategy Analysis
On December 18th, the overall trend of SOL has fluctuated more compared to Bitcoin. After failing to break the resistance at 128.9, it retraced to a low of 116.6. Currently, SOL shows signs of a pullback.
Technical Analysis
The 4-hour Bollinger Bands have expanded, with the middle line trending downwards, corresponding to prices: 132.3-125.16-117.9, indicating a volatile downward trend. The current market has broken through the middle line during the pullback but has not touched the MA5 moving average, and the market continues to show a volatile downward trend. The MA moving averages are currently maintaining a downward trend in the short term. The MACD indicator is below the zero axis, with both lines trending downwards, and bearish volume is gradually increasing. On the hourly chart, both lines are below the zero axis, with bearish volume also gradually increasing.
The RSI indicator on the 4-hour chart shows both lines in the overbought trading area, with values of 28 and 24, showing a bearish crossover. The hourly chart is in the overbought trading phase, showing a bearish crossover.
Resistance levels above: 122.5, 125.1, 128.9
Support levels below: 116.7, 112.2, 104
Low Long Strategy: Establish a primary position if it does not drop below 116.7, add to the position at 112.2, with a self-managed stop loss.
First Take Profit: 122.5
Second Take Profit: 125.1
High Short Strategy: Establish a short position if it does not stabilize above 122.5, add to the position at 125.1, with a self-managed stop loss.
First Take Profit: 116.7
Second Take Profit: 112.2
