🎉 Gate Square Growth Points Summer Lucky Draw Round 1️⃣ 2️⃣ Is Live!
🎁 Prize pool over $10,000! Win Huawei Mate Tri-fold Phone, F1 Red Bull Racing Car Model, exclusive Gate merch, popular tokens & more!
Try your luck now 👉 https://www.gate.com/activities/pointprize?now_period=12
How to earn Growth Points fast?
1️⃣ Go to [Square], tap the icon next to your avatar to enter [Community Center]
2️⃣ Complete daily tasks like posting, commenting, liking, and chatting to earn points
100% chance to win — prizes guaranteed! Come and draw now!
Event ends: August 9, 16:00 UTC
More details: https://www
According to the latest Technical Analysis, the price of SOL coin is facing downward pressure in the short-term. The 1-hour chart shows that the price has broken below the short-term moving average, hovering in the range of 190-185, with various indicators leaning bearish, and it is expected that the short-term will continue to be under pressure.
The 4-hour chart also shows a slight bearish trend. Although the price is still above the 200 EMA, it has fallen below the 21 EMA, and the RSI, MACD, and DMI are all leaning towards the bearish side, which may lead to further testing of the lows.
However, from the daily chart perspective, SOL still maintains a mid-term bullish pattern. The price is above the 21-day and 200-day moving averages, with key support levels in the 173-174 range. This means that long-term investors still have opportunities.
Based on the current market situation, it is recommended that investors adopt the following strategies:
Short-term operations can consider laying out short positions around 190, with a stop loss set at 192. If it falls below 184, additional short positions can be added, with target price levels at 175 and 147.
The medium-term strategy continues with a bearish approach. You can place short positions before 190 is triggered, with a stop-loss at 202. Increase your position when it falls below 182, targeting price levels of 164 and 147.
Long-term investors should closely monitor the daily bullish pattern. If there is a pullback to the 173-174 range, consider adding to long positions, with a stop-loss set at 173. After breaking through 192, additional long positions can be added, with target prices of 210 and 240.
Please note that the cryptocurrency market is highly volatile, and investors should operate cautiously based on their own risk tolerance, set stop-loss orders reasonably, and control their positions. At the same time, closely monitor market news and overall trends, and adjust strategies in a timely manner.