SOL Surge Insider Revealed! Behind last night's rocket-like rise, should you chase or run today?
Last night, it directly broke through key resistance levels. Although there was a slight pullback today, the bullish pattern remains strong! Let me break down the logic behind it using a 1-hour candlestick chart, and share my personal views along the way.
News: Surprise good news, market sentiment exploded!
Although the specific news hasn't been fully verified, rumors in the circle suggest there was a significant project collaboration or technical upgrade in the SOL ecosystem last night, with institutions and large holders positioning themselves in advance, directly igniting buying pressure. Such sudden good news easily triggers FOMO sentiment; once retail investors follow the trend, prices shoot up!
Technical: Key level breakthrough, bulls completely control the situation!
Resistance level breached: Clearly marked in the chart, SOL broke through the 194.27 key resistance level in one go last night, even touching a high of 198.74, indicating the bulls' strength is very fierce.
Fibonacci signals strong: Holding above the 38.2% retracement level, this is a strong consolidation range, with the next target possibly at the 50% level or even 61.8%.
MACD support: In the MACD indicator below, DIF 1.29 is above DEA 0.65, and the histogram is still red, indicating that short-term momentum is still there, but be cautious—since the red histogram hasn't continued to expand, it means the upward momentum may slow down.
Personal view: Bullish in the short term, but watch out for pullbacks!
Why is it rising? News + technical resonance, after the breakthrough, buying funds poured in, with a trading volume of 524.9K, lower than the estimated 1.18 million, indicating that the main force hasn't fully offloaded yet, and there are still short-term opportunities for a rise.
Where's the risk? Dense pressure above, 211.13 is a strong resistance, and the rise has been too fast. Once the good news is confirmed or the market pulls back, SOL is likely to experience profit-taking. Today at 11 o'clock, it has already slightly decreased by -0.57%, which is a signal!
Operational advice
If you are already on board, set a stop-loss to protect your profits, for example, below 196.12;
If you haven't chased yet, don't rush! Wait for a pullback to support and then enter in batches; better to miss out than to chase high!
Today's key focus is whether it can stabilize above 196; breaking through 200 can open up greater space. Remember, the hotter the market, the calmer you should be!
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