12.8 Midday SOL Technical Analysis

On the 1-hour timeframe, SOL shows a pattern of "V-shaped rebound - surge and retracement - consolidation and recovery": the current price is at 135, operating above the middle band of the Bollinger Bands; the upper band at 136.35 coincides with the previous high, forming strong resistance, while the lower band at 129.04 provides support. Overall, the price is fluctuating in a strong range between the middle and upper bands. Previously, after a rapid drop to the 127.55 low, the price rebounded sharply, surged to 136.33, and then fell back with a large bearish candle, forming a spiked top pattern, highlighting significant selling pressure in the 136-136.5 zone. The current small bullish rebound is a weak recovery after the sharp drop, with overall consolidation around the high and low points of the rebound.

Indicator-wise, the KDJ three lines have continued to decline from the overbought zone (J value once exceeded 100); after the J value fell below 50, it turned upward, reflecting a rapid weakening of short-term bullish momentum and entering a consolidation phase with a tug-of-war between bulls and bears. The MACD shows a slight narrowing of the red bars, indicating that the medium-term bullish trend is intact, and the short-term movement is just digestion of upward momentum.

Short-term Strategy
Consolidation range: High probability of maintaining a 132-136 range for 1-4 hours
Resistance: 135-136 (previous high + Bollinger upper band), around 138
Support: 132-133 (Bollinger middle band), 129-130 (Bollinger lower band + previous rebound area)
Trading suggestion: Consider light short positions in the 136-139 range, targeting 131-128; if holding above 135, another test of 138 resistance is likely; if it breaks below 132, a retest of the 130-129 area is highly probable.

The above is only my personal technical analysis and for reference only. Please follow Moyushi Pan’s strategies for specific trades!