SOL Market Analysis | Opportunities Emerging Amidst Fluctuations
Current Technical Formation
• Daily close with a small bullish candle, EMA52 moving average support is effective
• Recently maintaining a downward trend, but the overall decline is only 10%
• MA30 moving average remains upward, mid-term trend is not broken
Key Price Structure
Support System:
Short-term Key Level: 137 (Daily MA30)
Intermediate Support: 124-112 Range
Long-term Defensive Level: 98-82 Area
Resistance System:
First Resistance: 160 Round Number
Breakout Target: 172-183-204
Market Behavior Observation
• Ongoing mild adjustments for over ten days have cleared some positions
• Weekly level rebound structure remains intact
• Significant correlation with BTC, but the volatility is relatively converging
Operational Strategy Suggestions
Position Strategy:
Maintain bullish outlook above the 137 support
Be wary of deep pullbacks if MA30 is effectively broken
Trading Strategy:
Swing trading within the wide range of 120-180
Focus on trading opportunities in the 137-160 range
Mid-term Outlook
• Awaiting a macroeconomic shift (expectations of interest rate cuts)
• Before the main upward trend kicks off, the consolidation pattern may persist
• Continuous attention is needed on BTC's leading role in the overall market
Risk Warning
• If the 137 support is broken, it may test the 124-112 range
• Be cautious of sudden market fluctuations
• Position management should match the characteristics of a fluctuating market
Conclusion
SOL is in the daily adjustment phase within the weekly rebound cycle, and the gain or loss of the 137 support level will become the key in the short term. It is recommended that investors remain patient, gradually accumulate positions after confirming effective support, and wait for the subsequent main upward trend to unfold.
