0512 Monday SOL Analysis:

The recent 4-hour candlestick chart shows a significant decline in SOL prices, with bearish engulfing. The last candlestick is a bearish candle, with the closing price lower than the opening price. The MACD histogram remains positive but is gradually shortening, indicating weakening bullish strength. The KDJ value is 84, indicating an overbought state. The RSI value is greater than 70, suggesting a potential pullback after a rise. The MA10 value is greater than the MA30 value, indicating a relatively strong short-term trend.

Today's Market Prediction: On one hand, the Solana ecosystem is developing well, with a continuous increase in stablecoin supply, active DeFi protocols and memecoin markets, providing some support for SOL prices. On the other hand, technical indicators show overbought conditions, and the recent 4-hour candlestick chart shows a downward trend. Although trading volume is increasing, prices are declining, suggesting significant market selling pressure, which may lead to a correction. If it can break through the recent resistance level of 178, it may continue to rise. If it fails to break through, it may oscillate or decline around the current price level, with support around 137.

Operation Suggestion: Buy around 160-165, continue to target 180. $SOL