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Recently, the SOL price has been under pressure, showing a downward trend. From the 4-hour Candlestick Chart, consecutive Bearish lines have broken through the Bollinger Bands lower band at the 176 level, indicating a strong short positions dominant trend. The Momentum Index MACD also shows that the bearish strength is increasing, with no signs of a reversal yet.
Key price levels currently in focus in the market include: upper resistance levels at 183.5 and 188, and lower support levels at 175.0 (previous low) and 168.8 (important support level on the daily chart).
In response to this market situation, traders may consider the following strategies:
1. If the price rebounds to the 183-185 range but fails to break through, consider going short, with the stop-loss set above 188.
2. If the price falls to the range of 168.8-170 and shows a stop-loss signal accompanied by an increase in trading volume, you can try to buy on dips, with the stop-loss set below 167.
Overall, the current trend leans towards short positions, but after a continuous fall, a technical rebound may occur in the short term. Market participants should closely monitor whether the key level of 175 can be maintained and whether the price can return to the middle band area of the Bollinger Bands.
In the current volatile market environment, investors must operate cautiously and manage risks effectively. At the same time, it is advisable to continuously pay attention to the broader market environment and fundamental factors, as they may have a significant impact on SOL price trends.