15136.
After a period of rise, SOL has experienced a significant correction. The current K line has fallen below the middle track of the Bollinger Band at $255.66 and is close to the lower track at $230.69. This indicates that market sentiment is relatively pessimistic in the short term and selling pressure is relatively large.
The K and D values of the stochastic indicator (KDJ) are both above 60, but the J value has dropped to 54, showing that the market may be in a correction phase after overbought. Generally, when the K and D values are above 80, the market is considered to be overbought and may experience a correction. Although the current value has not yet reached the overbought range, the decline in the J value indicates that there may be further downward pressure in the short term.
In terms of trading volume, the trading volume in the last hour was 2,673,185 SOL, which is higher than MA (5) of 2,010,538 and MA (10) of 2,144,089, indicating that the current decline is accompanied by higher trading volume and selling is relatively active.
Combined with this information, the price may continue to test the support level of $230 in the short term. If this support level can effectively support the price, there may be a rebound to retest the middle track of $255.66. However, if the $230 support level is effectively broken, the price may further drop to $220 or even lower.
• 12-hour forecast: The price may fluctuate in the $230-250 range, looking for support.
• 24-hour forecast: If the $230 support level is effective, the price may rebound to the $250-260 range. If the support level is broken, the price may fall to $220.
• 48-hour forecast: If the market sentiment improves, the price may gradually rise to the $260-270 range. However, if the market continues to be weak, the price may consolidate in the $220-230 range.
Only represents personal opinions, not investment advice.
