Short Analysis and Medium to Long-term Layout of SOL

A key and strong effective support was formed near 225.
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The monthly chart of SOL has formed what appears to be a cup and handle pattern that has lasted for nearly three years, which is a long-term bullish technical formation. If it can effectively break out, the long-term target may even reach 1300 (based on Fibonacci extension calculations). The daily chart also shows signs of an ascending wedge!
Technical Indicators
The 5 and 10 moving averages are in a bullish arrangement, the price is running near the upper Bollinger Band, indicating a relatively strong phase. The MACD is above the zero line, momentum is leaning bullish, and the RSI remains at a bullish level of 61 (daily RSI above 94), which may pose a short-term pullback risk.
You can start to build long positions in batches below 238, paying attention to the strong support level at 225 below.
Before the interest rate cut, SOL is predicted to fluctuate in the range of 2208-250.
If the Federal Reserve cuts interest rates by 50 basis points, the unexpected easing may drive SOL to break through 250 in the short term and initiate a surge towards 280! If the rate is cut by 25 basis points, it may initially rise before a short-term pullback.
Investing requires caution; timely take profits and stop losses for safety! #币圈趣事分享 #sol #eth