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Solana (SOL) is trading at about $160, and the 24-hour decline has narrowed to 1.72%. After the market experienced severe selling pressure in the past few days, and the price once dropped to $146.75, there was a significant signal of stabilization and rebound. 📊 Overview of current trends and review of yesterday SOL experienced significant fluctuations yesterday, hitting as low as $146.75, but then buying forces came in, pushing the price to rebound strongly and eventually regain the $160 mark. The rebound narrowed the 24-hour losses sharply from the day's lows, reflecting bulls' effective defense at key support areas. 📉 Technical Analysis: Key Levels and Pattern Signals According to the latest data, SOL’s key price levels have changed subtly: · Resistance levels: $165-170 (immediate resistance to the recent rebound), $179-180 (key resistance near the 200-day moving average) · Support levels: $157-160 (new support converted from resistance), $146-150 (recent strong support area) Bullish pattern formation On the daily chart, SOL is forming a classic falling wedge pattern. This is a bullish reversal pattern that usually occurs at the end of a downtrend and is characterized by lower highs and lower lows within a converging trendline, indicating that selling pressure is gradually subsiding. Interpretation of technical indicators · RSI Improvement: As the price rebounded, the RSI has recovered from oversold territory and out of extreme bearish territory. · MACD momentum change: Although the daily MACD indicator is still below the zero axis, its histogram has begun to shorten, indicating that the downward momentum is weakening. A golden cross would confirm improved momentum. 🔍 News updates and early opinion verification Positive fundamental factors · Institutional funds continue to flow in: The US Solana spot ETF recorded a net inflow of US$199 million in its first week of listing, of which Bitwise's BSOL product contributed US$197 million, indicating strong institutional interest. · Ecological development and investment: Solana infrastructure startup Harmonic completed a US$6 million seed round of financing, led by top venture capital Paradigm, showing that capital continues to bet on the long-term development of the Solana ecosystem. · Company confidence measures: Nasdaq-listed Solana Company announced the launch of a US$100 million stock repurchase plan. This move is designed to support the company's acquisition and holding of more SOL, reflecting confidence in the long-term value of Solana. Early perspective verification The previous technical judgment that "SOL may rebound near the key support level" has been confirmed by the market. The price did attract strong buying in the $146-150 support zone and pushed the price towards a decent rebound, in line with the bullish expectations of the falling wedge pattern. 🤔 Operation strategy suggestions short term · Key entry area: The $157-160 range can be regarded as a new support area. If the price falls back to this area and stabilizes, you can consider short-term intervention. · Rebound target: The first short-term target is $165-170, and the next target after a breakthrough can be $179-180 (200-day moving average). · Risk control: If the price falls below $155, the short-term bullish view should be re-evaluated to prevent the risk of another dip. Medium and long term · Opportunities for batch layout: This pullback to below $150 and a strong rebound can be regarded as a reference for mid- to long-term layout. It is recommended to adopt a buying strategy in batches. · Ideal position building area: If the price retests the $150-155 area again and shows a stabilizing signal, it can be regarded as a better opportunity to add a position. · Stop loss reference: Set the overall stop loss reference level below $140. · Strictly controlling positions is the top priority in the current market and avoiding excessive use of leverage amid volatility. · Pay close attention to the trend of the Bitcoin market. Whether BTC can hold the $102,000 level will directly affect the sustainability of SOL's rebound. 💎 Summary and outlook SOL's short-term technical picture has improved significantly due to the formation of a falling wedge pattern and a strong recovery at $160. $157-160 has emerged as the new key support zone, while $165-170 is the first test of the rebound. For us, in the current market environment: · You can be moderately active in short-term operations and take advantage of the opportunity to step back into the new support zone to participate in the rebound, but you need to set a strict stop loss. · You should remain patient in your long-term strategy. The continued development of the SOL ecosystem (such as ETF capital inflows and start-up financing) provides support for its long-term value. Although the technical picture shows signs of improvement, market volatility remains high, and all trading decisions should be made based on real-time market conditions and personal risk tolerance. Please note that the cryptocurrency market has higher risks and all analysis is for reference only and does not constitute any investment advice. , the trend is unpredictable, more real-time guidance ⬇️⬇️⬇️  |
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