The recent rally of SOL feels a bit fake. On the four-hour chart, it hit 141.14 and started facing resistance. The MACD has already turned green and the green bars are still expanding. The RSI is hovering around 55.03 and trending downward. The 120 MA line above at 137.26 is holding strong, so the rebound has little strength. The main force's chips keep being sold off, and the signals couldn't be clearer.
Currently, at the 139.01 level, I would go short directly. Set the stop-loss just above the previous rebound resistance at 141.14 to avoid being shaken out. If it declines, the first target is 137.00. If the momentum continues to release, and 137.00 breaks, it could go toward 135.00. Trading trend positions requires patience and proper sizing; for those looking to catch a bottom in the short term, it's better to wait. Don't chase the rally; wait until the adjustment momentum is fully released before considering a light position to rebound.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
13 Likes
Reward
13
4
Repost
Share
Comment
0/400
OffchainOracle
· 01-09 16:54
The main force is hitting hard this time. I think about shorting at 139 and giving it a try. Anyway, the stop loss isn't far away.
View OriginalReply0
liquidation_watcher
· 01-09 16:50
Position 139 is indeed weak; the main force is dumping the market.
View OriginalReply0
OnchainDetective
· 01-09 16:47
According to on-chain data, this wave of SOL's movement is indeed a bit strange. The main force heavily targeted the resistance line at 141.14 with a clear rhythm, MACD has turned green, and RSI is continuously declining, a typical distribution method. After tracking multiple indicators, I see very clearly the logic of shorting at the 139.01 level, which has already locked in the short-term downside target.
View OriginalReply0
FUDwatcher
· 01-09 16:40
The bearish signals are so obvious, and the main force is smashing so hard. I really can't see where the momentum for a rebound is.
The recent rally of SOL feels a bit fake. On the four-hour chart, it hit 141.14 and started facing resistance. The MACD has already turned green and the green bars are still expanding. The RSI is hovering around 55.03 and trending downward. The 120 MA line above at 137.26 is holding strong, so the rebound has little strength. The main force's chips keep being sold off, and the signals couldn't be clearer.
Currently, at the 139.01 level, I would go short directly. Set the stop-loss just above the previous rebound resistance at 141.14 to avoid being shaken out. If it declines, the first target is 137.00. If the momentum continues to release, and 137.00 breaks, it could go toward 135.00. Trading trend positions requires patience and proper sizing; for those looking to catch a bottom in the short term, it's better to wait. Don't chase the rally; wait until the adjustment momentum is fully released before considering a light position to rebound.