Good evening. With the opening of the weekly markets, we see the strong movement we were waiting for, and the trend in Solana clearly leans positively in the short term. Here’s a brief analysis:
Brief Analysis (Solana)
* Japanese Candlesticks: On the 4-hour timeframe, we see strong and long green candles formed in the last hours. This indicates strong and sudden buying momentum, and is a positive confirmation of the hammer candle that formed on Friday.
* Technical Indicators:
* MACD Indicator (Positive): It gave a bullish crossover on the 4-hour timeframe, confirming the momentum shift from negative to positive.
* RSI Indicator (Strong but Overbought): The indicator reached 72.00, which is the "overbought" area. This indicates the current momentum strength, but it also warns that the price may need a slight correction or sideways movement soon to catch its breath.
* Moving Averages (EMA):
* The price successfully broke through the moving averages EMA(7) and EMA(25) on the 4-hour timeframe, and is now heading to test the main resistance area between $155 and $157.
Decision: Should I reinforce or wait?
The situation has improved significantly, but entering directly now is considered "chasing the price" while it is in an overbought area, which carries risk. The safest option is to wait a bit for one of the following two scenarios:
* Scenario One (Waiting for Correction): Wait for a slight drop after this strong rise. The price may return to test the new support area around $149.5 - $150. If it bounces from this level upwards, it is an excellent entry point with lower risk.
* Scenario Two (Waiting for Confirmation of Breakout): Wait until the price breaks through the main resistance area at $157 and holds above it. This confirms that buyers have taken full control, and reinforcement can occur after this confirmation with the aim of continuing the rise.
In summary: Clear buying strength has appeared, but do not chase the price while it is in an overbought area. Wait for either a slight drop for a retest as an entry point, or a confirmed breakout of resistance.
$SOL $BOB #SaylorBTCPurchase #TrumpBTCTreasury #MarketRebound #CardanoDebate #IsraelIranConflict
$ada
