SOL Impacting Key Resistance Zone, Beware of 200 Level Trend Reversal Risk
SOL continues its upward trend, currently testing the critical resistance zone of 185-190. If momentum persists, it may further challenge the psychological level of 200. However, historical trends indicate strong resistance around 200, likely triggering a significant pullback. It is advisable to reduce positions gradually at highs to lock in profits, especially for those holding high-entry positions.
Key Technical Observations:
Historical Trend Verification: During the period from March to November 2023, 200-190-164 formed a clear top area, while 142-120 established significant bottom support.
Short-term Support: The 155-160 range is expected to provide rebound opportunities; breaking below this range would shift focus to the two major neckline supports at 144 and 123 (ideal area for medium-term positioning).
Volume-Price Coordination: If the volume is insufficient when reaching 200, be cautious of a quick reversal.
Key Price Levels:
Resistance Levels: 186 - 196 (strong-weak boundary) - 220 - 244
Support Levels: 158 - 154 (short-term bullish-bearish battleground) - 142 - 124 (key trend reversal point)
Operational Strategy:
Short-term: Gradually reduce positions above 185, with a focus on defending around 200.
Pullback Strategy: For the first touch of 155-160, lightly test long positions; if it falls back to the 142-123 area, increase medium-term positions.
Risk Control Reminder: A decisive drop below 154 could initiate a significant adjustment.
(SOL's volatility is significantly higher than mainstream cryptocurrencies; strict stop-loss settings are recommended to avoid emotional trading.)
