Evening of December 7

From the perspective of the 1-hour candlestick chart and technical indicators, SOL is showing a weak bottom-finding pattern after a breakdown in the short term. Recently, after surging to 133.93, it quickly pulled back, with a large bearish candlestick breaking through, directly piercing both the middle and lower Bollinger Bands. The price hit a low near 131.2, then rebounded slightly to 131.72, forming a “sharp surge and crash + narrow range consolidation at the lows” bear-dominated pattern, with bearish momentum fully released. The upper band of the Bollinger Bands has turned downward, and the price broke directly below the middle and lower bands from the upper band area, with the bands widening, confirming a short-term downward breakout trend.

The KDJ indicator’s J line has fallen into negative territory, and the K and D lines have formed a deep death cross below 50, indicating short-term severe oversold conditions, but there is no signal of a bearish reversal and no effective rebound momentum at the moment. The MACD histogram has turned green and continues to extend, showing that bullish momentum is completely exhausted and bears are in absolute control.

In the short term (1-4 hours), the price is likely to continue low-level oscillation and bottom-seeking: if it breaks below the previous low of 131.2, further downside space will open up; if it can hold the lower Bollinger Band support at 131.50, there may be a slight technical rebound, but the rebound will be limited by the middle band at 132.49, and the short-term weak pattern will be hard to change. It is recommended to consider a light position entry around 135–138 on a rebound, targeting the 130–128 area.

The above is for personal reference only. Please refer to Haoyu Shipan's strategy for specific details! $SOL ‌#sol