【10.8 SOL Short-term Trading Strategy】
📊 Market Sentiment Analysis
Market sentiment has been mixed recently. Although the break below the $146 support level has triggered some negative expectations, the recovery in prices and Ethereum's outperformance of the broader market show some positive signs, indicating that market adoption has increased. Overall, market sentiment is negative, mainly due to concerns about the loss of support levels and the failure of some startups.
📈 Technical Analysis
RSI: Currently at 42.35, close to the oversold area, there may be buying opportunities. Bollinger Bands: The price is close to the lower track of $142.97, suggesting potential support and rebound possibilities. MACD: Showing negative values, the bearish trend remains, indicating that the market is under great downward pressure. DMI: The negative movement index (MDI) is stronger than the positive movement index (PDI), and the ADX is 20.27, indicating a weak trend. KDJ: The K value is low, the market is oversold and may reverse. Moving average: The price is below the moving average, maintaining a bearish trend.
💡 Trading suggestions and strategies
According to the current technical indicators, shorting is more advantageous in the short term. It is recommended to focus on the trading cycle of a few hours to a day in the short term and closely monitor the reversal signal.
Stop profit: can be set at around $142.50 Stop loss: recommended to be set at $146.50
The current bearish signal is more obvious, but considering the mixed market sentiment, the confidence in the downward trend is moderate. Operate with caution and control risks reasonably.
The above is only for personal sharing and does not constitute investment advice. Investment is risky, DYOR!
