Family members, Brother Yang is here to talk about the latest market data for Solana (SOL) evening market comprehensive analysis. First, let's look at the RSI indicator, the 4-hour RSI has reached 71.04, the overbought threshold is 70+, which indicates that the short-term pullback pressure has increased. If this overbought risk is not corrected, the price is likely to drop to the support level of $160.
Next, let's take a look at the MACD indicator, the MACD histogram has turned from positive to negative, which indicates that the bullish strength is weakening. If a death cross forms on the hourly chart, the speed of decline may accelerate. Moreover, it is currently in a short-term overbought state, with RSI at a high level warning of pullback risk, some investors may choose to take profits and exit, which will also affect the price.
There is also an important situation, a certain address deposited 108,016 SOL into the exchange, which clearly increases selling pressure. Based on the current market situation, Brother Yang gives everyone an operational guide, around 164.5 - 164.00 can consider making a target looking first towards 161.80, and then further towards around 160.50. However, the market is volatile, so everyone must choose the right timing to operate, and proceed with caution! #solana