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In recent days, I've been watching SOL's trend, and the technical signals reveal some interesting clues.
From the candlestick chart, multiple moving averages combined with the upper band of the Bollinger Bands form a clear resistance zone. This indicates that the bears have a strong defensive line. More concerning is that momentum indicators like MACD and RSI are starting to weaken, showing that the bullish momentum is clearly diminishing. Once this situation is confirmed, the probability of a downward correction in the market will significantly increase.
From a technical perspective, shorting in the 136-138 range is a good strategy. If the breakout fails, the support levels below are around 123-125. This price range provides a reference for medium-term trading.
Currently, the overall rhythm of Bitcoin and Ethereum is also affecting the performance of altcoins. Whether SOL can hold its technical support depends on the market sentiment. The subsequent market correction risks need to be closely monitored.