SOL Technical Analysis: Following the Rise but Beware of Correlation Risks
Short-term Trend Observation
SOL's intraday performance continues to follow BTC's rhythm:
Asian and European sessions saw a volatile decline
U.S. stock pre-market briefly surged before facing selling pressure
In the early hours, quickly rebounded stimulated by positive news regarding SOL ETF
Daily Key Indicators
Five consecutive bullish candlesticks with long lower shadows, indicating strong support at low levels
Trading volume moderately increased, but prices remain constrained by the MA30 moving average
A golden cross is beginning to appear below the MACD zero line, with rebound momentum accumulating
Core Judgment
The technical landscape shows characteristics of bottoming and rebounding, targeting the 177-187 resistance zone
Constrained by the correlation effect with BTC, the sustainability of an independent rise is questionable
Key Price Range
Upside Resistance: 177 (Neckline) → 188 (Previous High) → 196 (Strong Resistance Zone)
Downside Support: 161 (Bull-Bear Divide) → 154 (Trend Support) → 140 (Strong Support)
Operational Strategy Suggestions
Short-term opportunities can be seized in the 161-165 area for low absorption
After breaking 177, observe the accompanying volume conditions
Must simultaneously monitor BTC trends to guard against correlation downside risks
(Note: The impact of ETF news is time-sensitive, beware of the risk of over-exhaustion of good news)
