The recent hourly Candlestick Chart for SOL shows a noteworthy trend. After reaching a high of $158.68, the price began to pull back and is currently oscillating around $145.
From a technical indicator perspective, both the 7-day moving average and the 30-day moving average are showing a downward trend, and the price is located below the moving averages, indicating that bearish forces are dominating. The trading volume is relatively flat, showing low market participation and restrained bullish forces. The MACD indicator shows that the DIF and DEA lines are intertwined below the zero axis, with green bars appearing intermittently, lacking clear momentum guidance.
In terms of the macro environment, the current geopolitical situation is intensifying, with Russia warning the United States not to intervene in the conflict between Israel and Iran, or it may trigger a larger international crisis. This unstable global situation puts pressure on the entire cryptocurrency market, and naturally, Solana cannot remain unaffected.
At this stage, the market focus is on the key support level at $143.58. If this level is broken, the price may decline further; if it can be effectively defended, there may be a brief technical rebound. However, considering the uncertainty of the overall market environment, the possibility of SOL experiencing a substantial rise is low, and it is more likely to maintain a weak oscillating pattern.
In this complex market environment, investors need to stay calm and closely follow the developments in the geopolitical situation as well as the performance of the SOL key support levels, in order to be fully prepared for potential market fluctuations.
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The recent hourly Candlestick Chart for SOL shows a noteworthy trend. After reaching a high of $158.68, the price began to pull back and is currently oscillating around $145.
From a technical indicator perspective, both the 7-day moving average and the 30-day moving average are showing a downward trend, and the price is located below the moving averages, indicating that bearish forces are dominating. The trading volume is relatively flat, showing low market participation and restrained bullish forces. The MACD indicator shows that the DIF and DEA lines are intertwined below the zero axis, with green bars appearing intermittently, lacking clear momentum guidance.
In terms of the macro environment, the current geopolitical situation is intensifying, with Russia warning the United States not to intervene in the conflict between Israel and Iran, or it may trigger a larger international crisis. This unstable global situation puts pressure on the entire cryptocurrency market, and naturally, Solana cannot remain unaffected.
At this stage, the market focus is on the key support level at $143.58. If this level is broken, the price may decline further; if it can be effectively defended, there may be a brief technical rebound. However, considering the uncertainty of the overall market environment, the possibility of SOL experiencing a substantial rise is low, and it is more likely to maintain a weak oscillating pattern.
In this complex market environment, investors need to stay calm and closely follow the developments in the geopolitical situation as well as the performance of the SOL key support levels, in order to be fully prepared for potential market fluctuations.