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Recently, the price of SOL has shown fluctuations. After attempting to break through the key resistance level of 190 USD without success, SOL experienced a pullback, briefly falling below the important support level of 180 USD. However, technical analysis indicates that the market may be brewing new changes.
On the 4-hour chart, the negative value of the MACD histogram is narrowing, indicating that although the bearish strength is still dominant, the momentum is weakening. At the same time, the hourly chart shows a three consecutive bullish candlestick pattern, suggesting that there is still potential for an upward movement in the short term.
Nevertheless, investors should remain cautious. The market currently seems to be at a critical turning point, with the support level around $180 being the focus of observation. If it can stabilize at this position, it may create conditions for a subsequent rebound.
For traders, the current market conditions may provide a potential entry opportunity. Consider establishing a long position near the 180 dollar support level, with target prices set at 188 dollars and 192 dollars. However, keep in mind that the cryptocurrency market carries high risks, so be sure to manage your risks properly.
Overall, the current trend of SOL reflects the overall Fluctuation of the cryptocurrency market. Investors need to closely monitor market trends and flexibly adjust strategies to cope with various situations that may arise.