SOL on January 6th shows a short-term mixed situation of bulls and bears. The fundamentals remain strong, but technicals still need a breakthrough to confirm the subsequent direction. In this environment, a trend-following approach of "buying on dips and confirming a breakout before following up" is more prudent. Oppositely trading against the trend may easily lead to pitfalls.
From the price performance, SOL is currently consolidating around $137. The strong support zone below is in the $130-$135 range, which has historically been a price level that both institutions and retail investors are willing to accept. On the upside, the key resistance at $140-$145 is critical; whether it can be effectively broken through will determine the rhythm of the next market move.
The RSI indicator currently reads 59.6, indicating a neutral to slightly bullish level that is not yet overbought, suggesting there is still room for further upward movement and it hasn't reached a dangerously overbought zone.
**Trading suggestion**: Consider gradually building long positions on dips around 132-135. The first target is the resistance zone at 140-145. If this pressure zone can be effectively broken, the next level to watch is $150. The key is to wait for confirmation signals, avoid rushing into chasing or counter-trading impulsively.
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ser_ngmi
· 01-06 05:00
Wait a minute, this logic is ridiculous... RSI is only 59.6 and you're saying there's still room to rise, doesn't that mean there's always room? I think, it still depends on trading volume; relying solely on indicators makes it easy to get trapped.
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QuietlyStaking
· 01-06 05:00
I need to hold steady during this 132-135 pullback; otherwise, I'll chase the high and get caught again. I've learned my lesson.
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Frontrunner
· 01-06 04:45
I'm afraid to move at this level of 137. Let's wait until it drops below 135. Usually, during such times, it's more likely to explode in the opposite direction.
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AirdropNinja
· 01-06 04:35
It's the same old tune of waiting for a breakout. I got caught last time, and this time I'll just hold tight below 130.
SOL on January 6th shows a short-term mixed situation of bulls and bears. The fundamentals remain strong, but technicals still need a breakthrough to confirm the subsequent direction. In this environment, a trend-following approach of "buying on dips and confirming a breakout before following up" is more prudent. Oppositely trading against the trend may easily lead to pitfalls.
From the price performance, SOL is currently consolidating around $137. The strong support zone below is in the $130-$135 range, which has historically been a price level that both institutions and retail investors are willing to accept. On the upside, the key resistance at $140-$145 is critical; whether it can be effectively broken through will determine the rhythm of the next market move.
The RSI indicator currently reads 59.6, indicating a neutral to slightly bullish level that is not yet overbought, suggesting there is still room for further upward movement and it hasn't reached a dangerously overbought zone.
**Trading suggestion**: Consider gradually building long positions on dips around 132-135. The first target is the resistance zone at 140-145. If this pressure zone can be effectively broken, the next level to watch is $150. The key is to wait for confirmation signals, avoid rushing into chasing or counter-trading impulsively.