🔴Detailed technical analysis of Solana (SOL) 📉📈🚀
1. Overview of price and market movement
Current price: around 194.04 USD, with price movements between 186.74 USD and 194.22 USD during daily trading.
Reports indicate that SOL faces strong resistance near $170–$175, despite the remarkable performance around the $185 area as a critical threshold to strengthen the upward momentum.
Conversely, clear correction signals indicate the possibility of a return towards support at $160 in case of failure to break resistance, especially with the emergence of the 'head and shoulders' pattern hinting at potential selling pressure.
Other reports indicate that SOL managed to rebound from the $192 level and stabilize above around $197.50, supported by strong cash inflows of $44 million, indicating reinforced support at lower levels.
2. Basic technical indicators
A. Investing.com Indicator (SOL)
There is a consensus signaling 'Strong Buy' across all time frames: minute, hour, day, week, and month.
Moving Averages: 11 indicators signaling 'Buy', compared to only 1 for 'Sell'.
Technical indicators: All indicate 'Strong Buy' with no sell signals.
Special indicators:
RSI (14): 60.02 → Buy signal.
Stochastic: 77.68 → Buy signal for prices.
MACD: 1.329 → Buy signal.
Williams %R, CCI, ROC, and others support the upward trend.
B. TipRanks
General recommendation: Strong (Strong Buy).
Moving Averages: 11 Buy vs 1 Sell.
RSI (14): 56.39 (Neutral).
MACD: 5.61, but shows signs of selling.
Pivot Points:
Support: S1 ≈ 186.23 USD
Resistance: R1 ≈ 188.96 USD, R2 ≈ 190.09 USD.
J. Bitget
Overall indicator: 'Strong Buy' rating.
Oscillators: 4 Buy, 6 Neutral, 0 Sell.
Moving Averages: 12 Buy, 2 Neutral, 1 Sell.
RSI (14): 56.76 → Neutral.
MACD: Buy signal.
Pivot: The main pivot is around 188.4 USD, resistances R1 ≈ 191.35-192.93 USD, support S1 ≈ 186.82 USD.
3. Market analysis and chart patterns
There are negative patterns, such as the 'head and shoulders' model, supporting a bearish scenario in case of failure to break the resistance around $170–$185.
Wave analysis indicates an expected return of prices towards 173.55 USD, which is a previous support from a prior correction.
Flow data shows an inflow of $44 million in cash during the recent recovery session, reinforcing the price path at the upper support levels.
Institutional investors' visit to SOL supports the positive outlook amid ongoing volatility in Bitcoin and its impact on the overall movement.
4. Summary of the technical situation
Indicator / Item Rating or Value
Current price ~194 USD
Overall technical state Strong Buy (majority of indicators)
RSI 56-60 (Neutral leaning towards Buy)
MACD Positive, with some mixed sell signals
Nearby resistance 185-190 USD
Potential support 173-186 USD
Chart patterns Head and Shoulders (Bearish) possible
Cash flows Positive ($44M)
5. Technical recommendations
For breakout traders: Monitoring the breakout of the 190 USD level with confirmation momentum (high trading volume) may open the way for a rise towards 200–210 USD.
For conservative traders (Range-bound): Targeting reversal at support levels between 173–185 USD, with a flexible stop loss based on candle size and confirmation of the return.
Attention should be paid to the risks arising from the head and shoulders pattern and potential selling pressures if the price fails to surpass the established resistance.
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