Solana (SOL) is about to make a strong breakout! Seize this opportunity for a 30% increase with three key signals

Summary

Current price of $SOL

is $146.25, showing a short-term oscillating upward pattern. The technical analysis indicates a price breakout above the middle Bollinger Band, but is under pressure from MA200. It is recommended to go long after a breakout at $147.9, targeting $152.4, with a stop loss at $143.6 (risk-reward ratio of 2.3:1). Caution is advised regarding the reversal risk due to a sharp decrease in open interest and RSI overbought pullback pressure.

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Technical Analysis

1. Price Status:

• Bollinger Bands: Price is at the 61.2% percentile (between the middle and upper bands), opening upward space after breaking the middle band at $147.05

• MA200: Current price is 1.02% below the 1-hour MA200 ($147.76), creating short-term resistance

• Holding Cost: Current price is 0.54% below the average holding cost, indicating potential selling pressure for liquidation

2. Market Strength:

• Trading Volume: 24-hour volume increased by 163%, supporting a 2.12% price increase, with good volume-price coordination

• Open Interest Direction: Open interest dropped sharply by 85.2% in 24 hours, with the loss of open positions during price rise warning of potential main force exit risk

• Long-Short Ratio: The perpetual contract long-short ratio is 1.6155 (down 2.1% in 24h), indicating cautious leveraged funding

3. Key Levels:

• Support: $143.6 (Bollinger lower band + lower limit of maximum trading area)

• Resistance: $147.93 (Bollinger upper band + MA200 resonance level)

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Market Cycle Analysis

Currently in the mid-adjustment phase of a bull market, after a cumulative increase of 38.1% over the past 30 days, entering a period of chip turnover, with the concentrated holding cost area ($136.7 - $152.4) providing strong support.

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