Recently, the price of Solana (SOL) has begun to adjust after oscillating at a high level. Although there is a rebound in the short term, it lacks sufficient breakthrough momentum. From the mid-term technical perspective, it still shows a bearish trend. To reverse this situation, SOL needs to break through the exponential moving average (EMA) and the first resistance level (R1).



The four-hour chart shows that SOL is in a medium-term downtrend. In terms of short positions, it is recommended to set the stop loss near $201.71. $192.18 and $198 are two price levels to consider for adding positions, with $192.18 already triggered. If the price falls below $176.60, additional short positions can be added. The target take profit levels are $167.13, $161.00, and $153.60.

The hourly chart shows that SOL is in a consolidating bearish trend. Short-term short positions can set a stop loss at $194.80. $190.50 ( has triggered ) and $193.00 are two possible averaging points. If it breaks below $186.00, consider adding to the short position. The take profit targets are $181.00, $176.60, and $167.13.

From a comprehensive analysis, the current bullish momentum of SOL has weakened, and various technical indicators have not shown obvious bullish signals. It is recommended to primarily adopt a short strategy on rallies, waiting for the price to rebound to a suitable position before positioning. If SOL can break through and stabilize above the R1 resistance level, one may consider switching to a long position. However, given the current situation, the upper resistance has not been effectively broken.

From the structure of the 4-hour chart, the overall trend of SOL still appears weak. Investors need to closely monitor the key support range between $176 and $167, as the price may test this area again to seek support.

In operations, be sure to pay attention to risk management, set stop-loss levels reasonably to cope with market uncertainties. At the same time, continuously monitor market dynamics and fundamental news, and adjust strategies in a timely manner.
SOL3%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • Repost
  • Share
Comment
0/400
WalletManagervip
· 08-16 11:25
I mentioned earlier that the RSI data isn't great. Let's hold on and wait for a rebound.
View OriginalReply0
SmartContractPhobiavip
· 08-16 10:46
The short order has breakeven after 4 months!!
View OriginalReply0
LightningLadyvip
· 08-16 10:44
So you're coming for a short order again, huh? You still dare to gamble after losing last time?
View OriginalReply0
DegenWhisperervip
· 08-16 10:43
No time to look at pictures, just finish the matter.
View OriginalReply0
PumpAnalystvip
· 08-16 10:36
I shorted the suckers waiting for a rebound.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)