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Solana (SOL) has recently attracted attention in the market, with different technical indicators showing varying trends across different time periods, presenting new opportunities and challenges for investors.
In the short term, SOL shows signs of a bullish return. The 1-hour chart indicates that the price has broken through the EMA9/21 moving averages and VWAP, rebounding from the support level of $184.48, with a clear bullish momentum in the short term. Investors should pay attention to the important resistance level of $191.66, as a breakthrough is expected to lead to further upward movement towards $201.88 or even $219.10.
However, the 4-hour chart shows relatively bearish signals. The price is under pressure from the EMA9/21, leaning bearish in the short term. Cautious traders may consider looking for short opportunities in the range of $189.00-$191.68, with target prices between $174.64-$168.00.
From a daily perspective, SOL still maintains a medium-term bullish pattern. The EMA9/21/200 shows a bullish arrangement, and the MACD remains positive, all supporting a continued bullish outlook. The key support level is at $173.43. If this level can be held and it breaks through $192.06, a new round of increases may begin, with target prices potentially reaching $215.81 and even $239.53.
Overall, SOL is currently at a critical moment of intertwined bullish and bearish trends. It is advised that investors adopt a flexible strategy:
1. Short-term trading can lean towards going long, but be sure to control risks and set reasonable stop-losses.
2. The medium-term outlook remains optimistic, but one should also be vigilant about potential pullback risks.
3. Whether going long or short, one should strictly control the position size to avoid excessive risk.
4. Closely follow the changes in trading volume and various technical indicators, and adjust strategies in a timely manner.
The market is changing rapidly, and investors need to remain vigilant, keep up with market trends, and manage risks effectively. At the same time, it's important to follow the overall direction of the cryptocurrency market and the development of the Solana ecosystem, as these factors may significantly impact the price of SOL.