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3-18 SOL Short-term Trading Strategy
SOL experienced a rapid rally to around 97.7 in the short term but encountered significant resistance, with bullish momentum gradually weakening and failing to sustain the strong breakthrough pace. The current price is running at a phase-high level with insufficient volume support, making the risk of chasing longs significantly elevated and blind followings are not advisable.
The overall market has entered a high-level consolidation stage, which is more suitable for a strategy favoring shorts with longs as secondary. Prioritize waiting for price pullback and resistance testing before positioning, focus on monitoring the support level below for its holding strength, and only consider going long after stabilization.
Trading Recommendations
Short near 96-97 on bounce, target 92-88 area