Daily analysis (September 28)
From the daily chart, the current price of SOL is $159.3, approaching the key psychological level of $160. MA5 ($154.54) and MA10 ($150.08) formed a golden cross, indicating strong short-term upward momentum, and MA30 ($138.45) still maintained a steady upward trend. Previously, SOL formed a staged bottom at $120.479 and rebounded all the way. The current price is close to the previous high of $161.288. The MACD indicator shows obvious bullish momentum, the DIF line and the DEA line continue to diverge upward, and the green column momentum increases, showing a strong upward momentum.
Four-hour line analysis
The four-hour chart shows that SOL rebounded quickly after the previous adjustment and is currently above the MA10 and MA20 moving averages, with the moving averages showing an obvious bullish arrangement. In the short term, the price once broke through $160 and stepped back to accumulate strength, and the trading volume was enlarged, indicating that the buying power is increasing. The MACD indicator continues to run above the zero axis, and the bullish momentum is sufficient. It is expected that the price will test the resistance level of $161.288 again in the short term, and further rise to the $165 area after breaking through.
One-hour line analysis
In the one-hour chart, SOL is in a sideways trend in the short term, fluctuating around the $159-160 range, and MA5 ($157.59) forms a short-term support. The MACD indicator shows that although there are mixed signals between long and short positions, the bulls still have the upper hand. If the price continues to rise steadily above $159, it is expected to usher in further upward opportunities, with a short-term target of $161, and may even challenge $165.
Recommendations
Long order strategy: If the SOL price successfully stands above $160, you can follow up with a light position and long orders, with the target at $161.288 and $165, and the stop loss set below $155.
Short order strategy: If SOL is under pressure and pulls back near $160, consider short-term high-altitude operations, with the target at $155 and the stop loss set above $161.5.
Risk control tips: The current market is turbulent. It is recommended to control positions, be cautious when chasing ups and downs, set stop losses reasonably, and guard against sudden market fluctuations.
The bullish trend of SOL is becoming more and more obvious, and the key resistance is about to be broken. The opportunity in the short term should not be missed!
