Family, today Hao Ge will analyze the price trend of SOL for you!
Let's start by discussing the patterns and indicator signals. An ascending channel has already formed on the hourly chart, with the lower support at $205. As long as this support level holds, the short-term trend looks bullish. Now, looking at the daily level, a cup-and-handle pattern has appeared. If it breaks through the $195 'handle' position, the target could point to $285, which means a potential increase of 46%, quite substantial!
Next, let's look at the momentum indicators. The current RSI value is 58, which is in a neutral to strong state, and the MACD histogram has turned positive from negative. From these indicators, we can see that the bulls have the advantage in the short term. However, we cannot let our guard down; if the price falls below $200 and the RSI drops below 50, we need to be cautious of the risk of a pullback.
Next, let's talk about the trading strategy. For bullish strategies, the current price is $203.50, we can take a small position to go long, setting the stop loss at $195. If it breaks this level, we should exit quickly to protect our principal, which is the most important. If the price breaks through $215, we can increase our position, initially targeting $230 and then looking further towards $258, which is the upper boundary of the daily channel.
For bearish hedging, we also need to be prepared. If the price falls below $195, we will go short, targeting $175, with a stop loss placed above $200 to manage risk.
For friends with a long-term layout, you can wait for the price to drop to the $175 - $180 range to build positions gradually. Due to institutional lock-ins and the favorable news from the September Firedancer upgrade, there is still great potential in the long term.
Finally, Hao Ge's operational advice for today is to consider shorting around $203.60 - $206.50, initially targeting $199.88, then looking towards $194.38.