SOL Short-term Trend Analysis: Key Support and Rebound Opportunities Coexist
As of now, Solana (SOL) is trading around $148, maintaining its position within the recent fluctuation range. After failing to break through the high of $160 last week, SOL has started to retrace and is currently building short-term support between $145 and $150.
From a technical perspective, the $148 level has been confirmed as a support level multiple times recently. If it can hold in this area, there is a possibility of testing the resistance range of $152 to $155 again in the short term. However, if it falls below $145, there is a need to be cautious of a further drop to $140 or even $138, which will test the buying strength of medium to short-term bulls.
On the four-hour chart, SOL shows signs of increasing volume at the bottom after forming a brief downward channel. The RSI indicator is close to the oversold zone, and the MACD momentum bars are beginning to converge, indicating that there may be accumulated rebound momentum in the short term. However, insufficient volume remains a major concern for a weak rebound.
Currently, there are no significant positive or negative news in the market, and it is generally following the pace of the broader market. If BTC and ETH maintain strong fluctuations, SOL may rebound; conversely, a weak market may lead SOL to continue retracing.
Currently, SOL is in a key short-term support area, and the loss or gain at the $148 level will directly determine whether there will be a rebound or continued retracement. It is advised for short-term traders to pay attention to the breakout direction in the $145-$152 range, manage their positions well, and avoid chasing highs and panic selling.
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