$SOL
【SOL August 16 Evening Market Analysis🚀】
Good evening everyone, it is now August 16th at 20:30 Beijing time. The real-time price of SOL is about $186.5, down approximately 4% from the previous high. Intraday fluctuations have been between $183.3 and $194.3. Although this pullback is in place, it feels more like a breather for the bulls rather than a reversal for the bears.
The current price is still stable above several major short-term moving averages, and the structure continues to lean bullish. The key support area is between $183 and $184; as long as it holds, the market remains healthy. Resistance is concentrated in the $190 to $194 range, and if it breaks through with volume, the target will directly aim for $200 to $205. However, if it is pushed back into that range, caution is needed for continued short-term fluctuations.
Operating suggestions are as follows:
• Aggressive traders: You can try going long with a light position in the $184 to $186 range, setting a stop loss at $182, with the first target aimed at $190→$194→$200.
• Conservative traders: It is recommended to wait for the price to break above $194 and confirm with volume before following up, capturing the subsequent rise.
In summary: Bounce back and hold the support, once SOL lifts, the bulls will charge again, the key is whether tonight’s retest successfully establishes a bottom.
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