Recently, looking at the 1-hour chart of SOL, from a technical perspective, there are some interesting signs. The price has formed a "W" shaped bottom around 140, which often indicates that the previous downtrend may be coming to an end. It has now broken through and stabilized above various short-term moving averages, and the golden cross signal has also appeared, suggesting that the bulls are starting to take over.
However, don't get too optimistic. Looking at the MACD, the fast line is still slightly below the slow line, and the histogram remains in the negative zone, meaning that the upward momentum still needs time to build. So, there is a high probability of a brief sideways consolidation or a small retracement afterward, which is quite normal.
From an operational perspective, you might consider gradually building positions in the 138 to 140 range, with a stop loss at 136. On the upside, you can focus on resistance levels at 145, 150, 155, and 160. The specific strategy should still depend on your risk tolerance—don't blindly chase the highs.
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GraphGuru
· 01-21 17:11
A W bottom breakdown is a king's move, but this MACD is still dithering and dithering. Doesn't it seem a bit fake?
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HodlKumamon
· 01-21 12:10
The wave of building positions at 138-140 is also in my plan, just worried that MACD might drag on for a few more days, my patience for the bear is running out haha
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I'm relieved to hear you say that. The W bottom + moving average golden cross indeed heals, I will remember to stop loss at 136
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Not blindly chasing highs woke me up, I lost money last time doing that. This time I'll try DCA fixed investment
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I feel that 145 and 150 are the real tests. Whether it can hold steady will depend on the trading volume at that time
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To be honest, it's a bit uncomfortable that MACD is still in negative territory, but sideways consolidation is indeed quite normal. Hold tight everyone
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BlockImposter
· 01-18 17:50
W bottom rebound? Will this be another false breakout, hard to say
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SandwichTrader
· 01-18 17:44
W Bottom is back again. How many years has it been since this set of rhetoric? Still the same old trick.
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NervousFingers
· 01-18 17:43
W bottom this time definitely has some substance, but the MACD is still hesitating. Are you brave or not?
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LadderToolGuy
· 01-18 17:42
W bottom forms a golden cross again, I'm tired of this routine. It'll just drop again with a big bearish candle.
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ChainWatcher
· 01-18 17:36
W bottom this time definitely has some potential, but MACD is still hesitating. I'll wait and see first.
Recently, looking at the 1-hour chart of SOL, from a technical perspective, there are some interesting signs. The price has formed a "W" shaped bottom around 140, which often indicates that the previous downtrend may be coming to an end. It has now broken through and stabilized above various short-term moving averages, and the golden cross signal has also appeared, suggesting that the bulls are starting to take over.
However, don't get too optimistic. Looking at the MACD, the fast line is still slightly below the slow line, and the histogram remains in the negative zone, meaning that the upward momentum still needs time to build. So, there is a high probability of a brief sideways consolidation or a small retracement afterward, which is quite normal.
From an operational perspective, you might consider gradually building positions in the 138 to 140 range, with a stop loss at 136. On the upside, you can focus on resistance levels at 145, 150, 155, and 160. The specific strategy should still depend on your risk tolerance—don't blindly chase the highs.