Based on the chart, here's my analysis of $SOL :
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Analysis:
The price is hovering around $164.67 after hitting resistance near $171.76, a strong resistance level. The 7 MA (moving average) is slightly above the current price, indicating some pressure from the short-term trend, while the 25 MA is also supporting the price near $163.85.
The KDJ shows a downward momentum, but the Stoch RSI indicates oversold conditions, which could mean a reversal is possible soon. The MACD remains slightly bearish with negative divergence, and the OBV (On-Balance Volume) indicates declining buying interest, making it important to be cautious.
Entry Point:
A potential long entry could be around $163.50 - $164.00, where the price is showing some support near the 25 MA.
Another possible re-entry would be around $162 - $160, as it might be a stronger support if the price falls further.
Exit Point:
Target a potential exit near $170 - $171, just before the previous resistance level. If the price pushes through, it might test the $173.93 mark.
Warning: If the price falls below $160, it might test lower support levels, so consider placing a stop-loss around $159 to minimize potential losses.
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Disclaimer:
I'm just sharing my analysis based on the chart and technical indicators. Please do your own research and risk management. I am not responsible for any losses.
