SOL attempted to break through $145 yesterday but was unsuccessful, and the price has returned to consolidate around $140.
On the daily chart, the Bollinger Bands are now moving in parallel, and the volatility has clearly narrowed. The previous downward trend has come to an end, and the market has now entered a wide-range consolidation phase.
Looking at the 4-hour chart, SOL has formed a W-bottom pattern, but after briefly reaching $145, it failed to move higher, indicating that bullish confidence is still lacking. The MACD histogram has started to turn bearish, and the overall price pattern is shifting from a bottom structure to a top formation. Be cautious of a possible pullback after a rally during the day.
In terms of strategy, you can consider shorting in batches within the $141-145 range, targeting $132-127, with a stop loss set above $147.
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New_Ser_Ngmi
· 12-05 04:53
Can't even break through 145, this bullish momentum is really weak. I'm still bearish.
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PessimisticLayer
· 12-05 04:52
This 145 barrier really can't be crossed no matter what. It feels like the bulls are going to get trapped.
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GasFeeAssassin
· 12-05 04:50
145 got pushed back again. The bulls are really weak. Feels like it will keep going down.
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FreeMinter
· 12-05 04:44
Can't even break through 145? Are the bulls asleep or what? Feels like it's about to drop.
SOL attempted to break through $145 yesterday but was unsuccessful, and the price has returned to consolidate around $140.
On the daily chart, the Bollinger Bands are now moving in parallel, and the volatility has clearly narrowed. The previous downward trend has come to an end, and the market has now entered a wide-range consolidation phase.
Looking at the 4-hour chart, SOL has formed a W-bottom pattern, but after briefly reaching $145, it failed to move higher, indicating that bullish confidence is still lacking. The MACD histogram has started to turn bearish, and the overall price pattern is shifting from a bottom structure to a top formation. Be cautious of a possible pullback after a rally during the day.
In terms of strategy, you can consider shorting in batches within the $141-145 range, targeting $132-127, with a stop loss set above $147.