Analysis of SOL: Is there hope for this wave of market?
Recently, SOL has made a significant move, strongly breaking through the strong resistance zone at 200. This signal is very positive, indicating that buying pressure is starting to gain the upper hand. From the chart, it is highly likely to end the recent adjustment and prepare to start a new wave of upward movement.
Looking at the moving averages, the 20-day line is showing signs of turning upwards. If the price can steadily stay above 200, it might lead the moving average system to form a bullish arrangement again, adding momentum to the upward trend.
The momentum indicators are also slowly recovering. The daily MACD's fast and slow lines are near the zero axis, and there is a possibility of diverging upwards again. The green bar momentum is still increasing, and the strength of the upward movement is gradually building up. The RSI has also climbed up from the neutral zone, now roughly in the strong range of 55-65, with more room for further increases.
SOL's midday thought:
Go long in the range of 201.0 - 203.0, looking up to around 207.0 - 212.0! $BTC