January 9 SOL Market Outlook

The four-hour price has fallen back from the upper band, although it rebounded above the middle band, the upper band is turning downward, and the channel is narrowing with a bearish bias; while the lower band is at a low level, its short-term support for the price is limited.

The DIF and DEA red bars are narrowing, indicating that the bullish momentum is continuously weakening, and there is a potential trend of forming a death cross; the bearish signals are gradually strengthening.

SOL Trading Suggestion: Short near the rebound at 142-147, targeting 133-123.