Solana (SOL) continues to show strong market momentum. Despite experiencing a sharp fall to around $177 tonight, it quickly rebounded and is currently fluctuating within the range of $183-$185. From a Technical Analysis perspective, the daily chart indicates that the $186-$190 range constitutes an important resistance level.



For traders inclined to short, this range may provide a potential entry opportunity. However, it is crucial to pay special attention to the fact that if the price breaks above 192 dollars, it is advisable to take defensive measures immediately. Considering the current market trend, if you plan to short at high levels, be sure to set a strict stop-loss.

It is worth noting that the current market is showing frequent V-shaped rebounds, which create profit opportunities for both bulls and bears. However, it has also led to many traders facing liquidation risks due to their failure to adjust strategies in a timely manner.

Finally, it should be emphasized that once the price of SOL breaks through the key range of 186-190 USD, the short-selling strategy may no longer be applicable. In this case, investors may need to reassess the market direction and adjust their trading strategies accordingly.

Regardless of the trading strategy adopted, it is crucial to maintain caution and risk awareness when trading in the cryptocurrency market. The market changes rapidly, and timely market analysis along with flexible strategy adjustments are key to successful trading.
SOL3.48%
View Original
post-image
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.
  • Reward
  • 7
  • Repost
  • Share
Comment
0/400
TommyTeachervip
· 10h ago
It just rises sideways.
View OriginalReply0
PumpDoctrinevip
· 08-20 18:51
Enter a position and get to work!
View OriginalReply0
NFTArtisanHQvip
· 08-20 18:51
sol's price action rn is pure digital baroque... the volatility aesthetics are *chefs kiss*
Reply0
just_another_walletvip
· 08-20 18:50
Cut Loss and it's done.
View OriginalReply0
Anon32942vip
· 08-20 18:49
It's too high, I don't dare to go in.
View OriginalReply0
CrashHotlinevip
· 08-20 18:45
dumb buyer hurry up and enter a position can't miss it
View OriginalReply0
0xSherlockvip
· 08-20 18:44
I sent this coin, it's too powerful.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)