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Solana (SOL) is trading at about $156.510, with a 24-hour increase of 0.96%, and the day's fluctuation range is $150.420 - $161.140. In the past 24 hours, the price of SOL experienced a volatile trend of first falling and then rising. After hitting a low of $150.42, it received buying support and gradually rose back to the current level. 📊 Overview of current trends SOL is currently at a critical node in short-term direction selection. After the price rebounded from yesterday's low of $150.42, the market's long and short sides reached a stalemate around $155-158. The 24-hour trading volume reached $6.22 billion, showing that market participation remains high. This price fluctuation occurred after SOL's recent continued decline, with the decline still reaching 1.42% in the past seven days, reflecting that market sentiment remains cautious. 📉 Detailed explanation of technical analysis · Resistance levels: $162-165 (immediate resistance), $172-175 (strong resistance), $185 (near the 200-day moving average) · Support levels: $150-154 (psychological mark and recent low), $147 (key support on-chain data), $140 (deeper support) Multiple technical indicators indicate that the market may undergo changes in the short term: · Conditions are met for an oversold rebound: RSI readings are close to the oversold zone, suggesting that selling pressure may have been excessive, creating conditions for a technical rebound. · The MACD indicator is brewing a golden cross: On the daily level, the MACD indicator is about to form a bullish crossover. If confirmed, it may indicate a change in the short-term trend. · A bottom pattern is building: Prices are consolidating in the $150-$160 range, forming a potential double bottom structure, which is a bullish signal that may herald a short-term reversal. 🔍 News impact positive factors · ETF funds continue to flow in: Solana ETF has performed well and has recorded net fund inflows for 11 consecutive days, totaling US$351 million, of which Bitwise’s BSOL product accounts for the majority. This shows that institutional investors maintain confidence in SOL's long-term prospects. · Increase in institutional holdings: Some institutional investors are still increasing their holdings of SOL. Data shows that whale addresses have accumulated a net inflow of approximately US$26 million in SOL during the recent decline, showing the confidence of big funds in the long-term prospects of SOL. · Bank integration advancement: SoFi Bank has integrated Solana transaction services, allowing users to purchase SOL directly from their checking accounts, which significantly improves the accessibility of SOL. risk factors · Technical Breakout Risk: The price has fallen below all major moving averages, and both short-term and medium-term trends have turned bearish. · Unlocking selling pressure continues: Alameda Research once again unlocked 193,000 SOL (worth approximately US$30 million) on November 11. These tokens are usually transferred to exchanges for sale, increasing market selling pressure. · Network activity cools: Solana network active addresses have dropped to 3.3 million, a 12-month low, which could impact the network's fundamental valuation. 🤔 Operation strategy reference short term · Key defensive level: Pay close attention to support at $150. If the price stabilizes here and there is a rebound signal (such as a long lower shadow), you can consider stepping in with a short position. · Rebound target: The first target of the short-term rebound is the $162-165 range, and after a breakthrough, it may further test $172. · Risk control: If the price effectively falls below $150, you should consider stopping the loss and leaving the market to prevent the risk of further testing $147. Medium and long term · Layout in batches: The current price area ($150-157) can be regarded as an opportunity for mid- to long-term layout, and it is recommended to adopt a buying strategy in batches. · Ideal position building area: You can consider starting a position near $150. If the price can fall back to the $140-147 area, it will be a better time to add a position. · Stop loss benchmark: Set the overall stop loss reference level below $138. · Strictly control your positions: Make sure the risk of any single transaction is within your tolerance. · Pay attention to market sentiment: The trends of Bitcoin and Ethereum will have an important impact on SOL. · Pay attention to important news: Pay attention to the development of Solana network ecology and global macroeconomic policies. 💎 Summary and Outlook SOL's short-term technical outlook is still bearish, but the oversold state has paved the way for a technical rebound. The support strength of $150 is crucial and is the line of defense that bulls must guard. · Stop losses should be strictly set in short-term operations, and you can try to capture opportunities for oversold rebounds. · Long-term layout requires more patience. The continuous institutional capital inflow brought by ETF and the rapid development of Solana ecosystem itself are still its important long-term value supports. If SOL can successfully hold the $150 support and break through the $165 resistance, it may start a rebound towards $175-180； On the other hand, if $150 falls, it may drop to the $140-147 area. Please note that the cryptocurrency market is highly volatile and all analysis in this article is for reference only and does not constitute investment advice. , more real-time guidance ⬇️⬇️⬇️⬇️⬇️  |
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