SOL Trend Analysis
From the daily perspective, SOL has rebounded from the low of $140.21 on June 13, rising over 11% to the current $156.52 in just three days, forming a strong recovery pattern. On June 15 and 16, there were consecutive bullish candles, indicating a clear bullish control in the market.
In the 4-hour cycle, the price is oscillating upward above $152.97, currently maintaining a high-level consolidation with no obvious top signals, showing a strong short-term trend.
MACD (4-hour): The histogram has turned positive, and momentum continues to be released; the fast and slow lines are expanding upwards, favorable for sustaining the upward structure.
MACD (daily): Although still below the zero line, the fast line has noticeably turned upwards, with a golden cross emerging, suggesting the trend may undergo further correction.
RSI: The 4-hour RSI is at 61.99, in the bullish extension range, indicating healthy market sentiment; the daily RSI is at 56.55, not overbought, leaving room for upward movement.
4-hour: The price is firmly above EMA7 ($153.57) and EMA30 ($151.60), with clear short-term support; EMA120 ($156.18) is the current important resistance level.
Daily: EMA7, 30, and 120 have all been broken, indicating a typical rebound confirmation structure.
Daily trading volume: On June 15, the highest volume in recent times was released (about 2.83 million), synchronized with the price rise, indicating active participation of funds.
4-hour trading volume: Volume increased when key resistance was broken, and though there was a slight retreat afterwards, it remained stable overall, showing decent buy support.
Operational Strategy Suggestions
Long Entry Reference Points:
Entry One: $152.00
Close to the previous support and EMA30, providing structural support significance.
Entry Two: $148.50
Near the dense trading range of June 14 and previous lows; if it stabilizes after a pullback, consider adding positions.
Stop Loss Level: $146.00
If this level is broken, the bullish structure is damaged, and decisive stop loss should be implemented.
Target Levels and Resistance Ranges:
First Target: $160.00
Near the previous high, there may be phase selling pressure.
Second Target: $165.00
Top formed on June 10, a strong resistance level; it is advised to take profit gradually at high points.
Short Stop Loss Reference: $167.00
If this level is broken, a new trend phase may begin, and short positions need to be quickly closed.
SOL is currently in a strong rebound phase, with technical structure and momentum indicators leaning towards bullish. In terms of operations, it is recommended to build long positions on dips in the short term, paying close attention to resistance performance in the $160-$165 range. Also, be cautious of the short-term retracement risk due to increased volatility at high levels, and set stop-loss mechanisms in advance.
Personally, I see the trend of $SOL as bullish.
