5.3 SOL Under Pressure at High Levels, MACD Death Cross Continues to Expand!!!
1. Daily Analysis — Top formation gradually emerging, bears waiting for the right time to act. From the daily chart, SOL has maintained a strong upward trend since early April, reaching a high of 157.24. However, there have been significant signs of a pullback recently. The bearish candle from yesterday engulfed the bullish candle from the previous day, showing signs of a top gradually forming. The Bollinger Bands have started to contract, and the price is currently around the middle band (approximately 148.34). The red bar momentum of the MACD indicator has begun to decline, with the fast and slow lines about to form a death cross, and green momentum bars appearing without showing signs of a rebound. If the daily chart continues to operate below the middle band, bears may further dominate.
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