The four-hour Bollinger Bands upper band of SOL has turned downward and is closing in overall. After falling from a high, the price rebounded above the middle band, but the narrowing channel indicates reduced volatility, often signaling an upcoming direction choice, with a bias towards a downward breakout;
Although the lower band is at a low level, support is usually weaker during the closing phase. Meanwhile, the MACD indicator's red bars continue to shrink, showing that bullish momentum is significantly weakening, and there is a potential trend of DIF and DEA forming a death cross, further strengthening the short-term bearish signal. Overall, in the context of insufficient rebound momentum, there is a higher possibility that the price will break below the middle band and test the lower band support later on.
SOL trading suggestion: Pull back near 142-144, aiming for 129-131.
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Analysis of SOL on the 1.9:
The four-hour Bollinger Bands upper band of SOL has turned downward and is closing in overall. After falling from a high, the price rebounded above the middle band, but the narrowing channel indicates reduced volatility, often signaling an upcoming direction choice, with a bias towards a downward breakout;
Although the lower band is at a low level, support is usually weaker during the closing phase. Meanwhile, the MACD indicator's red bars continue to shrink, showing that bullish momentum is significantly weakening, and there is a potential trend of DIF and DEA forming a death cross, further strengthening the short-term bearish signal. Overall, in the context of insufficient rebound momentum, there is a higher possibility that the price will break below the middle band and test the lower band support later on.
SOL trading suggestion: Pull back near 142-144, aiming for 129-131.