11.20 Midnight
Sol is currently at position 131.7, having just experienced a sharp drop, with a large bearish candle directly breaking through previous support.
Subsequently, the price fluctuated at a low level, showing a slight stop-loss signal, but the overall downtrend has not been broken.
The price has fallen below the lower Bollinger Band, entering the oversold area, which usually indicates a potential technical rebound in the short term.
The KDJ indicator's J value has entered a deeply oversold range, which is one of the signals for a short-term rebound.
The MACD indicator's dual lines have formed a death cross, and the MACD histogram is also continually expanding, indicating that the current downward momentum remains strong.
Overall, it is still in a downtrend, but since it has entered the oversold area, there is a possibility of a technical rebound.
Support level: The current price around 131 is a short-term support level; if this position is lost, it may further explore the 130 level.
Resistance level: The upper resistance level is around 135; if the price can rebound to this position, it may face some pressure.
It is recommended to buy on a pullback to around the 128--125 position, with the first target looking at around 133 and the second target looking at around 140.
The above is only personal advice for reference, please refer to the layout of Haoyu Shipan for #solana $SOL
