Looking at the chart for $SOL , the price is currently at $176.47 with a recent high of $177.22. The moving averages indicate that the price is trending upward, as it is above the 7-day MA ($174.52), 25-day MA ($172.46), and 99-day MA ($167.77).
Potential Entry Points:
For long entry, a potential pullback to the MA(7) level around $174.52 could serve as a good entry point if you're looking to ride the trend upward. Another possible level is $170.78, which is another support zone seen on the chart.
For shorting, you may want to consider resistance levels around $177.22 and $178.04. If the price fails to break these levels and shows signs of reversal, it could present a good short opportunity.
Short Sell Points:
$177.22 (recent high) could serve as a short entry if the price struggles to break past it.
Another possible level is $178.04, as it's a resistance level. If the market fails here, it may see a reversal or a correction.
Indicators:
The RSI is at 79.39, indicating that the market is in overbought territory, which could suggest a potential pullback soon.
Stochastic RSI and MACD also show signs of the market being overheated, meaning a short opportunity could arise soon.
In conclusion, I would suggest waiting for the price to test $177.22 or $178.04 to consider shorting if the momentum weakens. For long positions, look for a pullback around $174.52 or $170.78 for a better entry point.