Friends, today let's talk about the market analysis of Solana (SOL). Recently, the market has been quite volatile, and SOL's trend has also attracted a lot of attention. Let's take a look at the key technical indicators.
First, let's look at the MACD. Although the histogram is still positive, it has been getting shorter, which indicates that the bullish momentum is slowly weakening. Moreover, in some periods, a death cross signal has appeared, meaning that in the short term, SOL may need to continue to correct. Now let's look at the KDJ. Recently, this indicator has given multiple overbought signals, with the KDJ value reaching 107, indicating that there are too many buyers, and the price may be overinflated. Additionally, the J line has crossed below the K line, forming a death cross, which clearly indicates that the pressure for short-term profit-taking is increasing, and many people want to secure their profits. The RSI is currently in the neutral zone of 44 - 50, and has not yet entered the oversold area, but caution is needed; if it continues to fall, risks could arise.
Next, let's discuss support and resistance levels. The key support level is $180, which is the recent low; there is also $171, where institutions have accumulated, with as much as 12.4 million SOL stored here, so the support at this level should not be underestimated. The key resistance level is between $197 - $197, which is the Fibonacci retracement level; there is also $210, which is a psychological barrier. If it can break through, market confidence will certainly increase.
Now let's talk about the two scenarios of bullish and bearish. If SOL can steadily hold above the support level of $183 and break through the resistance level of $197, that would be impressive, as it could launch an attack towards the range of $210 - $250. However, this requires continuous inflow of ETF funds and whale accumulation, otherwise it will be difficult to achieve.
Today's operational guide from Hao Ge suggests considering going long around $180.02 - $182.50, with a target of $186.10 - $190.33.