Previously, I asked if $SOL would stop near 104, but now it has directly broken below and is approaching the old low of 101.54
Current price is 102.54, down 2.39% in 24 hours, falling from the high of 107.30 all the way down, deeper than the expected 104 area. EMAs 5, 10, and 20 are at 102.99, 103.33, and 103.77. The price has already broken below all moving averages, and the supertrend line at 104.98 has become a resistance level, showing a weaker structure than previously expected.
This time, the indicator dropped quite thoroughly: RSI6 is only 24.44, already in the oversold zone; RSI12 and RSI24 are at 33.25 and 40.61, also trending downward; KDJ is even more extreme, with a K value of 23.06, D value 33.13, and J value plunging straight to 2.92, near the bottom; MACD histogram at -0.22, DIF at 0.52 is still below DEA at 0.41, confirming momentum is bearish.
This correction is deeper than previously expected. Fortunately, the RSI of 6 has already entered the oversold zone, so theoretically it is not too far from a temporary respite, but oversold does not mean the decline will stop immediately.
Do you think SOL will break below that old low of 101.54 this time and retest support?
Personal views and do not constitute investment advice.
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