#sol

SOL
Review on December 18th: The overall trend of SOL shows more volatility compared to Bitcoin. After failing to break above the resistance at 128.9 during the upward push, it declined back to the low point of 116.6. Currently, SOL shows signs of a pullback.
Technical Analysis
The 4-hour Bollinger Bands are widening, with the middle band moving downward, corresponding to prices: 132.3-125.16-117.9, indicating a sideways decline. The current price has broken through the middle band during the pullback but has not touched the MA5 moving average, so the market is still oscillating downward. The MA moving averages are currently maintaining a short-term downward trend. The MACD indicator is below the zero line with both lines trending downward, indicating increasing bearish momentum. On the hourly chart, both lines are below zero and trending downward, with bearish momentum gradually strengthening.
The RSI on the 4-hour chart shows both lines in the overbought trading zone, with values at 28 and 24, forming a bearish crossover. The hourly RSI is also in the overbought stage with a bearish crossover.
Conclusion: Sideways decline
Resistance levels: 122.5, 125.1, 128.9
Support levels: 116.7, 112.2, 104
Long position strategy: Do not let the price fall below 116.7 to establish a core position, add to the position at 112.2, with a stop loss and the first take profit at 122.5, second take profit at 125.1.
Short position strategy: Do not let the price stabilize above 122.5 to establish a short position, add to the position at 125.1, with a stop loss and the first take profit at 116.7, second take profit at 112.2.