May 8, 2026 SOL Technical Analysis

Current price: $88.44, down 0.74% in 24 hours, 24H trading range $87.63–$90.44, overall following BTC's high-level oscillation and slight pressure correction
I. Daily Chart (Medium-term Trend)
1. Moving Average Structure: Price remains above short-term moving averages, the medium-term upward trend remains intact, bullish trend not broken, belonging to a strong correction phase
2. Bollinger Bands: Operating between the upper and middle bands, with resistance near the upper band at 91.5, and the middle band at 84.0 serving as a strong support zone
3. Indicator Performance: MACD red bars slightly narrowing, bullish momentum weakening, RSI in a neutral to slightly strong zone, no obvious overbought or oversold signals
4. Candlestick Pattern: Consecutive small K-line oscillations, with highs pushed back to small bearish candles, insufficient bullish continuation, entering a high-level sideways digestion phase
II. 4-Hour Chart (Short-term Rhythm)
1. Trend Status: Short-term high-level oscillation, upward momentum slowing, shifting from a single-sided rally to range-bound consolidation
2. Key Levels
◦ Resistance: 90.40 (intraday high), 91.50 (Bollinger upper band strong resistance), 93.00 (medium-term important resistance)
◦ Support: 87.60 (intraday low), 86.00 (short-term defensive level), 84.00 (daily strong support)
3. Volume Characteristics: Rebound volume shrinking, downward volume moderate, bulls and bears temporarily balanced, no clear dominant force
III. Intraday Core Judgment
1. Medium-term bullish structure is stable, above $84 trend remains relatively strong, currently just high-level consolidation, not a trend reversal
2. Short-term pressured by BTC, mainly range-bound oscillation and slight correction within the day, unlikely to see large one-sided moves
3. $88 is a short-term dividing line; holding above it suggests oscillation upward testing the 90 level, breaking below it indicates a retest of the 86 support
IV. Intraday Trading Ideas
• Short: Short positions around the 90.00–90.50 range, targeting 87.60 and 86.00, stop-loss above 91.50
• Long: Low buy on dips around the 86.00–87.00 support zone, targeting 90.00 and 91.50, stop-loss below 84.00
• Risk Control Tip: Coincides with BTC volatility, strictly control position sizes, avoid chasing highs
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