The SOL uptrend continues; exercise caution before key resistance levels
Against the backdrop of the market's frantic pursuit of Ethereum, SOL continues its upward trend. The daily chart shows a small bullish candle with upper and lower shadows, and the trading volume has slightly shrunk compared to the previous day, but overall it remains healthy. Technical indicators show that the daily MA30 moving average maintains an upward trend, and the MACD continues to diverge above the zero line, with bullish momentum gradually strengthening.
The current price is approaching the $180 mark, with significant neckline resistance at $186. If this resistance level is strongly broken, it is expected to further challenge the $200-213 range. Considering that SOL's current rise mainly relies on the overall market atmosphere, it is advised that investors appropriately reduce positions to lock in profits as they approach the $186 resistance level, and re-enter the market when the price effectively breaks through and confirms with a retest.
For investors who have not yet entered positions, two ideal entry opportunities can be awaited: the first is to wait for the price to break through $186 and then retest to confirm support; the second is to wait for a consolidation near $164 after an upward move meets resistance. The $164-155 area forms an important support zone, with $145 below it being a key defense line for the medium to long-term trend.
Currently, the SOL trend is primarily following the market, lacking independent momentum. It is advisable to remain flexible in operations, enjoying the benefits of the rise while closely monitoring changes in Ethereum's trend and key level breakthroughs, and be prepared for risk management.
