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Recently, the price movement of SOL has shown a certain adjustment trend. In the latest trading day, SOL formed a Bearish line with a long upper wick, while the Trading Volume remained at a normal level, indicating that there is significant selling pressure in the market.
Although the daily 30-day moving average remains in an upward trend, the MACD indicator has formed a death cross above the zero line, which may indicate that the market has entered a correction period. Currently, the upward momentum is insufficient, and the price is prone to face selling pressure and retreat after reaching a peak, so investors should be cautious of short-term risks.
In terms of operational strategy, before the SOL price effectively breaks through the important resistance level of 210 USD, it is recommended that investors avoid blindly chasing highs. Instead, it may be more prudent to patiently wait for the price to pull back to the key support area before considering entry. If the price rebounds near the resistance level, moderate reduction of positions can be considered. Additionally, if the price retreats to the daily 30-day moving average (i.e., the 164-168 USD range), small position participation in short-term rebounds can be considered, with the target focusing on around 183 USD.
From a technical perspective, the main resistance levels for SOL are currently around $193, $210, and $220, while the important support levels are near $175, $166, $156, and $145. It is worth noting that SOL's price movement currently shows a strong correlation with Bitcoin, and its adjustment largely depends on the overall direction of the cryptocurrency market.
Investors need to pay special attention to the performance of the support zone between $164 and $168, as this area may become key in determining the short-term shift in bullish and bearish momentum. Given that the market has entered a consolidation phase, maintaining a flexible position management strategy is particularly important. In such a market environment, investors should be more cautious, closely monitor market changes, and adjust their investment strategies in a timely manner.