๐ 1. Price Movement of SOL
The price chart shows that SOL has had a slight downward trend at the beginning of the week, fluctuating from $186 to $179, and then gradually recovering.
Currently, the price is moving sideways in an accumulation zone, indicating that the market is balancing supply and demand.
๐ 2. RSI Indicator (14)
RSI fluctuates from below 30 to nearly 70, reflecting the adjustment and recovery phase.
Currently, RSI is approaching the overbought area (70), warning of the possibility of a short-term profit-taking.
However, if RSI exceeds 70 and holds, it may be a sign of a continued upward trend.
๐ 3. MACD Indicator (12,26,9)
The MACD Line has just crossed above the Signal Line => bullish signal (price increase).
The positive Histogram is expanding => buying pressure is increasing.
The MACD trend indicates that a new price increase cycle could begin if there are no significant fluctuations.
๐ 4. Trading Volume
The trading volume remains stable, with no spikes => market sentiment is neither too excited nor panicked.
There are no signs of a sell-off, supporting a solid accumulation trend.
โ 5. Conclusion and Strategy
Analysis Assessment Short-term Trend Positive Accumulation RSI Signal Near Overbought โ may have slight adjustment MACD Signal Newly formed bullish signal Volume Stable, no major disruptions
๐ Proposed Strategy:
Short-term: May open a buy position if the price holds above $185, set stop loss below $182.
Long-term: Gradually accumulate if the price stabilizes in the $180โ186 range and wait for a breakout above $190.
- Iโm holding a bit, what about you? ๐
๐ Please share your thoughts for me to learn more.