$SOL Follow and like to always receive recommendations
Technical analysis:
1. **Moving averages (EMA):**
- EMA(7): 166.32
- EMA(25): 166.47
- EMA(99): 173.30
- Current price: 167.40
- Note: The price is above the short averages (EMA7 and EMA25), indicating a short-term upward trend, but still below the long average (EMA99), which may act as resistance.
2. **MACD Indicator:**
- DIF: -1.08
- DEA: -2.41
- MACD: 1.33 (Positive)
- Note: The indicator is positive, which may indicate the beginning of an upward shift in momentum.
3. **RSI Indicator:**
- RSI(6): 61.79
- Note: The value is above 50 and approaching the overbought area (70), which may indicate a potential correction soon if it exceeds 70.
4. **Trading volume:**
- Current volume: 94,637.830
- Below the moving averages of volume (MA5 and MA10), which may indicate a lack of participation currently.
5. **Support and resistance levels:**
- Support: 160.69 (Lowest price in the session)
- Resistance: 173.11 (near EMA99)
### Recommendation:
- **Short-term traders:** Can enter buy positions with a target at 173.11 (near resistance), with a stop loss under 166.00 (below short averages).
- **Long-term traders:** Wait for a decisive breakout of resistance at 173.30 (EMA99) with high trading volume to confirm the long upward trend.
- **Warning:** Monitor RSI, if it exceeds 70, there may be a correction, so it is advisable to reduce positions or take partial profits.
### Conclusion:
Current momentum is positively short-term, but there is strong resistance at 173.30. Trading cautiously with risk management is advisable.
