The market presents a positive signal today, with SOL forming a long Bullish line. The Trading Volume is slightly higher than the previous day, indicating an improvement in market sentiment. This Bullish line engulfs the previous day's Bearish line body, suggesting that the buying power is strengthening.



However, we cannot be overly optimistic. The current rebound has formed after the price retraced to the daily EMA52, which often provides some support. However, it is important to note that the movement of SOL is closely related to Bitcoin. If Bitcoin continues to decline, SOL is likely to follow suit.

Assuming Bitcoin enters a sideways consolidation phase, SOL may continue to rise after a brief adjustment, with the next target range between 190-200. However, the important psychological barrier of 200 has repeatedly failed to hold, making a breakthrough in the short term difficult.

From a technical perspective, the current rise still belongs to a rebound nature, and a deeper correction may occur in the future. The area around the daily MA120 remains a strong support level, which is also a region we need to closely monitor.

Specifically, the resistance levels on the daily chart are around 197, 213, 237, and 250, while the support levels are around 174, 164, 156, 145, and 136. Investors should closely monitor the performance of these key price levels during operations.

Overall, although SOL shows some strength in the short term, the market is still full of uncertainty. Investors should remain vigilant, practice risk management, and not be blinded by short-term rebounds. Before making any investment decisions, it is essential to conduct a comprehensive analysis of the market situation and weigh the potential risks and rewards.
SOL1.67%
BTC-1.77%
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