1. Review of yesterday's trend

From the chart, it can be seen that after SOL's price quickly rebounded from a low of 187.00 yesterday, an obvious long lower shadow was formed on the hourly and four-hour charts, indicating that bullish strength is fighting back at low levels. Nevertheless, the price is still under the suppression of medium- to long-term moving averages (MA30 and MA100), and the bearish dominant trend has not changed.

Key observation points:

  • Hourly: Yesterday's closing price broke through the short-term MA7 moving average, with limited rebound strength.

  • Four-hour: The Bollinger Bands open downwards, with MA30 (214.73) and MA100 (225.01) both exerting strong pressure on the price.

2. Today's technical analysis

1. Support and resistance analysis

  • First support level: 193.50 (slight fluctuation area above yesterday's low)

  • Second support level: 187.00 (yesterday's low)

  • First resistance level: 203.00 (MA30 suppression)

  • Second resistance level: 214.50 (stronger MA100 suppression)

2. Indicator interpretation

  • MA moving average system: The short-term moving average (MA7) shows slight upward signs, but the medium- to long-term moving averages (MA30, MA100) remain downward, and the bearish pattern has not changed.

  • MACD indicator: On the hourly chart, the DIF line and the DEA line form a golden cross, and the histogram shows weak bullish volume, which may further rebound to the 203-205 range in the short term.

  • RSI indicator: The hourly RSI value rebounded from the oversold zone (below 30) to 42, indicating a slight increase in bullish sentiment in the short term, but the rebound space is limited.

  • Bollinger Bands: The four-hour Bollinger Bands continue to open downwards, and the price is currently running near the lower band. If the rebound is weak, it may test the lower band support again.

3. Trading suggestions

1. Short position strategy

  • Entry point: 201.50-203.50 (open short on rebound to resistance range)

  • Take profit target:

    • First target level: 195.00

    • Second target level: 187.50

  • Stop loss level: 204.50 (to prevent the price from breaking above MA30)

2. Long position strategy (short-term speculation, participate cautiously)

  • Entry point: 192.00-193.50 (light long position near support on pullback)

  • Take profit target:

    • First target level: 198.50

    • Second target level: 202.00

  • Stop loss level: 190.00 (stop loss if it breaks important support level)

Combining yesterday's trend with today's technical analysis, SOL has a short-term rebound demand, but the overall trend remains bearish. If the price rebounds and is blocked in the 203-205 range, consider establishing short positions at high levels, targeting down to 195 or even near 187. If it breaks below 187 in the short term, it will open up further downward space, targeting 180.

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