$SOL

Bullish Signal

1. The price is bouncing off the support at 166.12 – this area could be a short-term bottom.

2. MA(5) and MA(7) are starting to point upwards – an early sign of a bullish reversal.

3. RSI(6) has risen to 68.62 – momentum is quite strong, not overbought yet but getting close.

4. The Stochastic K and D are also rising sharply – confirming short-term bullish signals.

Caution Signs

The price is still below MA(25) and MA(99), meaning the larger trend is still downward.

There is strong resistance in the area of 172.64 - 175.25, which could be a correction point if it fails to break through.

Brief Conclusion

The potential for a short-term rise is quite strong, but caution is needed around 172.64–175.25 as it could be a selling area.

If you are scalping, you might consider taking partial profits as you approach that resistance area.