SOL Short-Term Trading Strategy: Accurately Grasp Key Levels
In the market fluctuations, SOL is currently oscillating around the key pivot of $242, and the contraction of the Bollinger Bands indicates that a new round of directional choice is about to arrive. Savvy traders have already positioned themselves between support and resistance, waiting.
The current SOL price fluctuates around $242, which is a crucial node for short-term directional choice. From a technical perspective, SOL has tested the $238-$245 range multiple times, and the market trading volume has slightly shrunk, indicating that both bulls and bears are relatively cautious.
Continuous accumulation by institutions (17 million SOL has been held by corporate treasuries) and the development of the Solana ecosystem (such as Solmate receiving $300 million in investment) provide potential support for the price.
Technical Indicator Analysis
1. Trend Judgment: Currently, SOL is in a short-term oscillation and consolidation pattern. The bullish trend on the daily level remains intact (7-day increase of 2.70%), but the MACD on the hourly level has produced a death cross, indicating a reduction in bullish momentum.
2. Key Positions:
Support: The primary support is in the $238-$240 range, with secondary support located around $233.56. If this level is broken, it may drop to $227.62.
Resistance: Direct resistance is in the $248-$250 area, and if broken, it may attack $254.52 or even the $260-$265 range.
3. Momentum Indicators: The RSI shows a steady upward trend, consolidating the bullish tone of the market. Meanwhile, the MACD indicator has also shown a bullish crossover, positioned above the signal line, confirming the market's positive sentiment.
Northbound Strategy: $238-$240, Stop Loss: $235
Target: Breakout and stabilize at $248-$250, aiming for $255-$265