Recent SOL Market Analysis and Trading Strategy

The recent SOL price has seen some pullback, but overall it remains within a fluctuating upward channel and has not broken key support levels. The medium-term bullish pattern remains intact.

From a technical perspective, the price is operating within an ascending channel, with the core support level below at 87.65, while it is constrained by the upper edge of the channel. Previously, the price surged to around 97.65, triggering an overbought signal before retreating; it has now pulled back to the lower middle part of the channel, which is a normal technical correction. On the indicator front, MACD shows a weakening of bullish momentum but still maintains positive values. Trading volume has shrunk with the pullback, and selling pressure has not significantly increased, indicating that market sentiment has not turned extremely bearish.

Combining the channel pattern and indicator signals, the current phase suggests a trading strategy focused on buying low and selling high as a secondary approach:

1. Buying Opportunity: When the price retraces to the 87.65-88 range, one can gradually establish long positions, with a strict stop-loss set below 87.5, targeting the middle track and upper area of the channel.

2. Selling Opportunity: If the price rebounds to the 95-97 range and the indicator triggers an overbought signal again, one can lightly short, with a stop-loss set above the previous high of 97.65.

It is important to note that if the support level of 87.65 is effectively broken, caution should be taken as the market may enter a deeper adjustment, at which point strategies should be adjusted promptly to avoid downside risks. Overall, SOL is still in a fluctuating upward cycle, and managing positions and strict stop-losses are core principles for dealing with short-term volatility.

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