SOL Alert! Plunge Warning: Death Signal Has Appeared, Cut Losses or Hold On? The Ultimate Battle Begins!
"The candlestick is like a boat, the news is like the wind, only by understanding both can one win in the vast sea of cryptocurrencies."
From the perspective of SOL's own project development, its ecological construction is continuously advancing, and the addition of new applications and partners brings potential value support to SOL. However, regulatory policies always hang over cryptocurrencies like the sword of Damocles; any news about strengthened cryptocurrency regulation can trigger market panic, leading to fluctuations in SOL's price.
Candlestick Judge's Personal Opinion
Inside the range, price fluctuations are intense, and both bulls and bears are fiercely competing. Currently, the price has broken below the lower edge of the range, accompanied by changes in trading volume, indicating that the bears have gained dominance in the short term.
From a technical indicator perspective, moving averages across all periods may show a bearish arrangement, further suppressing price increases. However, as a cryptocurrency with strong market attention, SOL's price fluctuations are also greatly influenced by market sentiment and capital flow.
Future Strategy
Given the current bearish trend of SOL's price, retail investors should maintain a cautious attitude in the short term. For investors with a lower risk appetite, it is recommended to wait and observe until the price trend becomes clearer before making decisions. For investors with a certain ability to bear risks, attention should be paid to the price performance at key support and resistance levels to look for short-term trading opportunities.
Specific Buy and Sell Points
Sell Point: If the price rebounds to near the lower edge of the range (around 150.00 - 152.00 area) and fails to break through effectively, while trading volume does not continue to increase, this can be considered a short-term sell point. This is because this area is a key resistance zone from the previous price fluctuations; if it cannot break through, the price may continue to decline.
Buy Point: Pay attention to the price performance near the previous low of 139.96. If the price finds effective support here and shows signs of a rebound with increased volume, while market sentiment improves, this can be considered a short-term buy point. However, it is necessary to closely monitor whether the price can continue to rise and if it can break through the upper resistance level.
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