SOL has been consolidating near the rebound trend line on Monday, and it is clear that funds are supporting it. Following the small-scale negative news released last night, the bulls who stopped out quickly when it dropped. After a pullback to support at 147 during the day, a bottoming pattern appeared on a smaller scale, and with the market rebound, it started to rise.
After testing the pressure at 151, the bulls continue to break upward with increased volume. After a return above 151 on a smaller scale, it tests the descending trend line again. If it chooses to break through 156 with volume later, the bulls will open up space above.
The current position is also not good for chasing highs. Waiting for a pullback near 150 to stabilize and enter carries lower risk, and the risk-reward ratio is also quite good.
Above: 153.5/154.2/156.7
Below: 150/148/146.5