This #SOL one-hour K-line chart looks really uninteresting
Opening at $165.24, closing directly down to $162.93, the highest surged to $165.27 and then dropped again, the lowest fell to $162.57, the price hardly moved. Trading volume was 112,232, obviously increased, indicating both buyers and sellers are trading.
MA7 line at $164.16, MA30 line at $169.17, the price is swaying close to the moving averages, short-term trend is downward. EMA7 line at $164.74, EMA30 line at $168.10, short-term moving average is below, long-term moving average is above, short-term downward momentum is significant.
MACD is directly at -0.39, both DIF and DEA are underwater, bears are in control. The KDJ indicator is even worse, K line at 46.33, D line at 43.41, J line at 52.17, all in the oversold zone, theoretically it should rebound, but without volume support it just won’t work.
I see this SOL coin still has to drop, those with heavy positions should withdraw quickly, and those looking to bottom fish should wait for a volume breakout before acting, don’t go against the trend, preserving capital is the most important.
Usually share some cutting-edge information and practical strategies, welcome to discuss views and seize this big opportunity together!