$SOL has been falling for half a month, and the 4-hour MACD has just formed a golden cross. But I don’t recommend treating it as a rebound signal right away 🤔
Binance 4-hour chart (16:32): over the past 15 days, it has dropped about 9%. MA7, MA25, and MA99 are still in bearish alignment, and the price is still below MA25.
This golden cross appeared below the zero axis, and RSI has only recovered to 34, which looks more like a breather after a sharp drop rather than a trend reversal.
My view: first watch two levels 📍
If it breaks above the 112.06 resistance and holds, then this golden cross counts, and the next target is the MA25 area;
If it falls below the 108.45 support, then the golden cross is invalid, and the previous low of 105.71 will be tested again.
Which do you trust more, the MACD golden cross or the bearish moving average alignment?
Source: Binance Market Data
#Solana #技术分析 $SOL
#BinanceSquare
⚠️ The above is an information summary and personal opinion, not investment advice. DYOR.
Binance 4-hour chart (16:32): over the past 15 days, it has dropped about 9%. MA7, MA25, and MA99 are still in bearish alignment, and the price is still below MA25.
This golden cross appeared below the zero axis, and RSI has only recovered to 34, which looks more like a breather after a sharp drop rather than a trend reversal.
My view: first watch two levels 📍
If it breaks above the 112.06 resistance and holds, then this golden cross counts, and the next target is the MA25 area;
If it falls below the 108.45 support, then the golden cross is invalid, and the previous low of 105.71 will be tested again.
Which do you trust more, the MACD golden cross or the bearish moving average alignment?
Source: Binance Market Data
#Solana #技术分析 $SOL
#BinanceSquare
⚠️ The above is an information summary and personal opinion, not investment advice. DYOR.