SOL 4-hour chart technical overview: support at 122, resistance at 132, clear downtrend

【CryptoWorld】Looking at the recent 4-hour chart of SOL, the market is showing a clear signs of stagnation. The price experienced a rally from noon on December 17 to this morning, but then pulled back, and the last candlestick closed as a bullish candle. However, trading volume has significantly decreased, indicating low market activity.

On the technical side, the MACD still signals weakness — the histogram remains negative and is gradually increasing, suggesting that the bears are still in control. The KDJ indicator is currently neutral, with a value around 27 indicating downward pressure, and no clear golden or death cross signals. Price-volume divergence is also quite evident, which often suggests that the downward trend may continue.

Regarding specific support and resistance levels, the current situation is as follows:

For a long position, entries can be made at 122.39 or 122.0, with a stop-loss set at 121.78. The first take profit point is at 133.32, and the second at 132.0.

For a short position, set the stop-loss at 133.99 to keep risk manageable.

Currently, support is at 122.0, resistance at 132.0. Looking at recent extremes, the high is 133.32 and the low is 122.39, indicating a fairly clear trading range. Overall, the bears are in the lead, and there are no strong buy signals in the short term, so it’s advisable to wait and see.