Sideways is not the end
It’s the countdown to a change!
SOL is now like a compressed spring, either it will soar into the sky
Either it will continue to sink to the bottom - the key is to see how the market chooses its direction.
News:
Sentiment is low but all the bad news is out
SOL has been relatively quiet recently, with no major positive or negative news. However, the overall market sentiment is cautious, with Bitcoin trading sideways and Ethereum upgrade expectations weakening, leading to capital outflows from altcoins.
However, SOL has fallen sharply in the previous period (from 187.71 to 141.53), and the short-term selling pressure has been released, and the possibility of further decline has decreased.
Technical aspects:
Weak shock, waiting for a breakthrough
K-line and support: The 4-hour chart has just closed with a small negative line, and the price is hovering around 159.6, close to the chip concentration area (around 158.7), and the short-term downward momentum has weakened.
Bollinger Bands are closing: The middle track of 160.16 has become a pressure level, and the price is bearish below it, but the narrowing of the channel indicates that a change is imminent, either breaking upward or testing support at the lower track of 150.84.
MACD crosses but weakens: The bearish signal is clear, but the green column is shortened, the downward momentum slows down, and a rebound may be brewing.
Stay tuned and wait for signals
Short-term: If the price stabilizes on the middle line of 160.16 and MACD golden crosses, you can try to buy with a light position; if it falls below the support of 158.7, wait and see or stop loss.
Mid-term: After the Bollinger Bands close, there will be a big market trend. Be patient and wait for the direction to be clear, and for a large-volume breakthrough or breakout.
Now SOL is like a side pot in gambling - either double it or clear it. Are you ready to bet in advance, or wait for the dealer to show his cards? Follow me, and get the most benefits with the least risk! $SOL #山寨币ETF展望
