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Recently, the Solana (SOL) market has shown a clear short positions trend, with Technical Analysis across multiple time periods indicating increased falling pressure.
In the short term, the hourly chart shows that SOL has fallen below the 9 and 21-day moving averages and is currently under pressure above the 200-day moving average. The price is consolidating in the range of $190-185, and if it falls below $184 (200-day moving average), it may trigger a new round of decline.
In the medium-term observation of the 4-hour chart, SOL has clearly weakened in momentum after breaking below the 21-day moving average. The key support level at $182 (200-day moving average) may trigger a deeper correction if breached.
In the long term, the 12-hour chart shows that SOL has fallen below the 9-day moving average and is facing resistance near $183 (21-day moving average). The bears still hold the advantage in this timeframe.
Based on multi-period analysis, investors may consider the following strategies:
1. Short-term trading can establish short positions in the range of 188-190 dollars, with a stop loss set above 192 dollars. If the price falls below 184 dollars, consider adding to positions, with target levels of 175 dollars and 147 dollars.
2. The medium-term strategy can establish short positions near $190, with a stop-loss at $202. If it falls below $182, additional short positions can be added, with target levels at $164 and $147.
3. Long-term positions can be established in short positions around $187, with a stop-loss at $198. If the price falls below the support level of $183, additional short positions can be added, with target prices of $170 and $142.
Investors should be aware that the cryptocurrency market carries high risks and price fluctuations are severe. Before engaging in any trading, it is essential to fully assess the risks and manage positions appropriately. At the same time, continuously monitor market dynamics and changes in fundamentals to adjust strategies in a timely manner.