January 21 SOL Technical Analysis

- Core conclusion: Daily chart is bearish, short-term weak oscillation; if the rebound is weak, the downward trend will continue, watch for breakthroughs/breakdowns of key support and resistance levels.
- Current price: $126.97 (24h fluctuation $126.3-$135.15, down -5.7%).

Key Levels and Indicators

- Daily: Break below EMA20 ($135.49), RSI 39.81 neutral to weak, MACD death cross with increasing volume, trend weakening.
- 12h: Retrace to the previous upward retracement level 0.618 at $124.80, combined with weekly moving averages support, possibly a short-term rebound.
- 4h: Bullish candle indicating stabilization, small timeframe shows consolidation and correction needs, but rebound strength is limited.

Support and Resistance (Key Levels)

- Support: $124.80 (strong, 0.618 retracement + moving averages), $120.00 (strong, previous high-volume trading zone).
- Resistance: $135.49 (strong, EMA20), $140.00-$142.00 (strong, previous high levels).

Trading Strategies (Actionable)

- Short strategy: Rebound near $135.00-$135.40, scale into short positions, stop loss at $136.00, target $128.00-$124.80, break below target $120.00.
- Long strategy: Stabilize at $124.80-$125.20 (e.g., 4h bullish close with volume), try small long positions, stop loss at $123.80, target $129.00-$130.00, exit on resistance.
- Position and risk control: Total position ≤30%, single trade stop loss ≤2%, strictly follow rules, avoid chasing highs and panic selling.

Market Evolution Scenarios

- Optimistic: Hold above $135.49 with volume increase, return to $136.00-$138.00 range for oscillation.
- Neutral: Weak oscillation within $124.80-$135.49, waiting for direction.
- Pessimistic: Break below $124.80 with volume increase, test $120.00, possibly test $115.00-$118.00.