Wang Pang analyzes the latest SOL market trends, the core issue is the intense tug-of-war between bulls and bears, and it's essential to pay close attention to support and resistance levels; operations need to be cautious.
Technical Analysis: Signal Divergence
1. MACD Bullish Weakening: The MACD red bars on the 4-hour chart are shortening, indicating a short-term weakening of bullish strength and insufficient upward momentum.
2. KDJ May Have a Rebound: Market sentiment is bearish, but the KDJ has previously dropped to 2 (oversold), indicating a potential for a technical rebound in the short term.
3. Insufficient Trading Volume: When prices rebound, trading volume decreases, and the willingness to buy at higher prices is weak; a significant increase in volume is needed to break the consolidation.
📈 Key Price Levels
The price movement in the next 4 hours will revolve around the following positions:
• Upper Resistance: $210 is the core resistance level, having been tested multiple times without holding; if broken with volume, it may look towards $213-$214.
• Lower Support: $201 (4-hour Bollinger Bands middle line) is the recent support, with key support at $183 (lower edge of consolidation); a drop below $183 could trigger a significant pullback.
💰 Funds and Sentiment
• Institutions Provide Long-term Support: 13 entities have built SOL reserves, holding a total of 8.887 million coins (accounting for 1.55% of total supply), recognizing long-term value and providing bottom support.
• Main Players Protecting at $210: Major funds have shown multiple unusual movements around the $210 level, attempting to stabilize the price.
• Overall Market Under Pressure: The crypto market is experiencing capital outflows (total market cap down 1.8% in 24 hours), with altcoins dropping broadly, and SOL facing short-term capital pressure.
Trading Suggestions
Go long with a light position around $204.38—$207.38, targeting $209.39—$212.38. Reminder: The market is highly volatile; it's crucial to defend your position and preserve your capital. #solana
