Wang Pang combines the latest market data of SOL to analyze from the technical perspective, capital movement, and macro factors, for everyone’s reference:

The current price is hovering around $205. The last 4-hour candlestick is a bearish candle, with the closing price lower than the opening price, and trading volume is low, indicating that the market is not very active.

In terms of technical indicators:

• The MACD histogram is still positive, but it's gradually getting shorter, indicating that bullish strength is weakening, and there is no obvious trend for the time being.

• The KDJ value has reached 93, which is in the overbought zone, and a short-term pullback may occur, but there has not yet been a death cross or golden cross.

• The support level is first seen at $187, followed by $184.5, and then positions at $201, $197, and $193; the nearest resistance level is $221, and after breaking through, it may test $221.74, with further resistance at $206, $209, and $213.

Risks to note: The current market sentiment and trading volume are average, with both price and volume declining, so it is important to be alert to volatility risks. Additionally, the overall cryptocurrency market and the trends of BTC and ETH will also affect SOL, so keep an eye on the broader market.

Wang Pang’s trading suggestion: Consider lightly going long around $204.88—$205.38, with a target of $207.98—$210.58. Lastly, the market changes quickly, so be prepared to defend and preserve capital for future opportunities. #solana