Let's talk $SOL
Current price 195.49, from the moving averages, MA7 and MA30 show a bullish arrangement, with strong support from the short-term moving averages; in the Bollinger Bands, the price once broke through the upper band to reach 204.76, and after a pullback, it oscillated near the middle band, with the lower band forming key support. Overall, the trend indicates that in the earlier phase, it relied on moving averages to oscillate upwards, after peaking, it has entered a pullback confirmation phase, but the bullish structure has not been completely damaged.
SOL has recently strengthened, partly due to its own ecosystem continuing to advance, with the acceleration of application scenarios such as DeFi and NFT, and an increase in on-chain activity; on the other hand, the overall sentiment in the cryptocurrency market is warming up, with funds flowing back to quality public chain targets. As a high-performance public chain, SOL has attracted capital attention. However, the cryptocurrency market is greatly influenced by the macro environment and industry policies, with strong volatility, so caution is needed regarding the risk of emotional reversals.
If you have already positioned, you can refer to the strategy combining moving averages and Bollinger Bands. Taking MA30 as the trend anchor point, if the price pulls back and does not break 194.70 and the lower band (192.22) support holds, you can hold for a potential second peak; if it effectively breaks below MA30, accompanied by increased volume, you may consider partial profit-taking to lock in profits and avoid deep pullbacks.
If you want to enter the market, you need to wait for clear signals. If the price stabilizes above the Bollinger Bands middle band (196.89), and the moving averages continue to show a bullish arrangement, you can try a light long position, setting a stop loss below the lower band (192.22) to control individual trade risk; if the price continues to dip, breaks below the lower band and confirms effectively, you can look for a rebound opportunity from oversold conditions, but you need to strictly control your position and avoid blindly bottom-fishing before a trend reversal.
For friends who want to position or hold, what do you think about SOL's subsequent trend? Share your thoughts in the comments section, and let's explore market opportunities together!
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