#VoteToListOnBinance $SOL
1. Overall Trend (5 Minute Timeframe)
Current Price: $129.30
Nearest Support: $127.80 (recent low)
Nearest Resistance: $130.18 (high in last 24 hours)
Short Term Trend: Bullish (as price is rising above the 7, 25, and 99 MAs)
2. Technical Indicators
š Moving Averages (MA)
MA(7) at 129.13 , MA(25) at 128.71 , MA(99) at 128.60
ā Current price is above all these MAs, indicating bullish momentum.
š RSI (Relative Strength Index)
RSI 63.62 ā Almost entering the overbought zone (70 and above), meaning there is potential for a correction if buying pressure weakens.
š MACD (Moving Average Convergence Divergence)
DIF: 0.21 , DEA: 0.18 , MACD: 0.03
ā Histogram is still green, indicating bullish momentum.
3. Strategy Recommendations
ā If you want to buy (long position):
Can wait for correction to 128.80 - 129.00 for entry.
Target take profit (TP) at 130.50 - 131.00 if the price continues to rise.
Stop loss (SL) below 127.80 to reduce risk
ā If you want to sell (short position):
Can wait for the price to fail to break through 130.18 , then enter short with a target at 128.80 .
Stop loss above 130.50 if the price breaks out higher
Can wait for correction to 128.80 - 129.00 for entry.
Target take profit (TP) at 130.50 - 131.00 if the price continues to rise.
Stop loss (SL) below 127.80 to reduce risk.
Conclusion
The short term trend is still bullish, but the RSI is starting to get high.
There could be a slight correction before continuing to rise.
Buy entry is safer when there is a pullback