SOL's counterattack after the critical juncture, whether 142 can hold will determine the future market's explosive potential!
Yesterday, SOL showed a very impressive rebound trend, rising from a low of 125.83 all the way up to above 147, with a single-day fluctuation exceeding 17%. Currently, the price is stabilizing at 142.85, which is a 'breathing period' after a significant drop, but whether this momentum can continue to turn into an explosion depends on how today's candlestick closes.
From the current candlestick structure:
The daily candlestick has strongly crossed the dense resistance area of the 10-day/20-day moving averages, and yesterday's bullish candlestick engulfed several days of bearish candlesticks, breaking the downward structure, forming a preliminary 'stop loss reversal' pattern.
Currently standing near the middle track of the Bollinger Bands, the BOLL bands are beginning to widen, and there is hope for a restart of an upward movement.
In the 4-hour chart, the short-term moving averages (EMA5, EMA10) have golden crossed upward, with prices clearly bouncing back to support, and there has been no rapid volume sell-off, indicating short-term bullish activity.
Directional forecast: Strongly oscillating
Current price: 142.6
First support level: 144.5
Second support level: 146.5
Support level: 140
