SOL price action bottomed out around 74.11 earlier, then reversed and went through a strong surge, rallying to a high near 79. After that, it started to pull back into consolidation and oscillation; currently it’s around 77.61.

In the short term, it still holds steadily above the Bollinger middle band. The Bollinger channel overall is opening upward, and the bigger trend remains bullish. What’s happening now is only a pullback and consolidation after the spike, with no clear bearish reversal signal yet.

Short-term outlook:

If the pullback near the lower Bollinger band around 77 holds and stabilizes, you can look for a rebound. The first targets above are the Bollinger middle band at 78 and the previous high at 79. If support isn’t broken during the pullback, the bias is mainly to go long following the move.

When rebounding approaches 78.5-79 and it can’t rise further, and it prints a pressure-indicating candle, take a small-position short-term trade for a pullback. Watch support at 77.5 and the lower band near 77. The bigger trend is still tilted bullish; for shorts, only do quick in-and-out trades.

My personal view, only for reference! #SOL