#SOL Technical analysis on 1D frame and suggestions for long and short strategies. Please refer to it.
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1. Overall trend:
SOL is in a medium-term uptrend, having risen sharply from the bottom of 95.190 to 157.240 and then slightly correcting to the current area of 147.
The price is above EMA(7), EMA(25), and has just touched the EMA(99) area (151.631), showing some signs of slight rejection here.
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2. Recent price behavior:
After a strong rebound, SOL is in a slight sideways adjustment phase, fluctuating around EMA(7), maintaining a relatively good trend.
Recent candles show small fluctuations and weak volume, indicating a wait-and-see or accumulation mentality.
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3. Technical indicators:
RSI(6) ~60: still above neutral, not overbought, indicating that buying pressure remains but is not strong.
MACD slightly positive and trending sideways: the uptrend is slowing down, but there are no clear reversal signals yet.
Volume is gradually decreasing: a sign of accumulation, with no strong new capital inflow.
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4. Strategic assessment:
Scenario 1 - Continued increase:
If SOL holds above the support area of 145–146 and bounces back to surpass the resistance area of 151–152, it is likely to test 157 again and break out to 173.
Scenario 2 - Short-term adjustment:
If SOL breaks below the dynamic support area of EMA(7) ~146, it may retreat to the 139–140 area (EMA25) to retest before making a decision to increase further.
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Suggested strategy:
Look to buy around the 140–145 area if there is a nice reversal candle (hammer, engulfing...).
Take profit gradually around 157 and more aggressively if surpassing 173.
Stop-loss if the daily candle closes below 139.
