Evening Thoughts for August 27 (SOL)
Today, SOL showed a fluctuating decline after surging to 213.66.
Although in the past two days SOL rebounded from around 188 to a peak of 213.66 with a considerable overall increase, the technical analysis indicates that the upper resistance remains significant, and there is still a possibility of another pullback in the short term. #BinanceHODLerDOLO
From the one-hour chart, SOL experienced a quick rebound during the day but faced pressure and declined near the key resistance, indicating that the bullish momentum is starting to weaken.
In the evening, my trading strategy still leans towards shorting at highs, with a focus on the resistance level around 207. If it cannot stabilize, there is a high probability that the decline will continue.
Trading Strategy: #SOLTreasuryFundraising
Focus on the resistance near 207 to layout short positions at highs.
The initial target below is to look at the 198-195 range; if it breaks down, it could likely retest the strong support at around 188.
Personal Opinion from Su: Currently, the rebound strength of SOL is insufficient to form an effective breakthrough; in the short term, the bears are still taking the lead. #MITOBinanceWalletTGE
Only after a significant breakout above 213.66 can a larger upward space be opened; otherwise, the rebound will likely continue to be suppressed. @苏哥618
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