Today, I noticed that SOL is making moves; the 1-hour chart directly issued a key signal, with the price stuck at $156. The market data hides mysteries, combined with the arrival of US economic data tonight, this wave of market activity may be more exciting than expected!
News: Tonight's ADP data sets the tone for market sentiment.
The key point is coming! At 21:15 Beijing time tonight, the US October ADP employment data will be released, with a previous value of -32,000 and an expectation of +28,000. This data is a barometer for the Federal Reserve's policy: if the actual value exceeds expectations, the US dollar may strengthen, but risk assets will also rise; if it falls short of expectations, the market may seek safety, but the expectation of interest rate cuts could provide support.
For the cryptocurrency market, ADP data directly impacts fund flows. Good data can boost confidence and drive a rebound in the SOL index, which correlates with the broader market; poor data might cause funds to flow into Bitcoin or gold. Sister Xin reminds everyone that price spikes and dips are common before and after the data release, so avoid chasing highs and lows!
Technical Analysis: A golden cross is emerging, but the main force's sell orders conceal a hidden strategy.
Looking at the 1-hour chart, SOL is currently at $156, fluctuating around a "key level." The yellow and white lines are pointing upwards below the zero axis, showing a clear golden cross trend, indicating that short-term rebound momentum is building! Keep an eye on the resistance levels at $160 and $168. A breakout with significant volume would likely lead to a higher price; however, if it falls below the first support level of $141, be wary of a pullback to the $130 support level.
More importantly, the order book data shows a large sell order of 69,100 SOL at $156.46, indicating that a major player is suppressing the price to accumulate shares. However, the order ratio and order difference are both positive, indicating that the buying pressure is not giving up! In this battle between bulls and bears, $156 is the decisive point, and the direction of the breakout will determine the short-term rhythm.
Xin Jie's View: A short-term rebound is expected, but key levels need to be held.
Combining technical and news factors, SOL is currently in a "ready to break out" phase. The golden cross and strong buying pressure from major players indicate that funds are accumulating positions at lower levels. If tonight's data is favorable, a rebound to test $160 is highly probable. However, don't forget that the overall market is still fluctuating; it's difficult for SOL to rise significantly independently, and it must hold the $156 support level. Retail investors shouldn't panic; this kind of market movement actually presents an opportunity for swing trading!
Operational advice: Be prepared for both possibilities, and prioritize stability.
Aggressive traders: Consider a small long position around $156, with a stop-loss at $154. Contact me for specific entry points.
Conservative investors: Wait for the data to be released, and if it stabilizes above $158, then follow up.
General strategy: Keep your position size below 50% and reserve sufficient funds to cope with sudden fluctuations.
Did you understand the script for this SOL rally? Is it a rebound or a bull trap? What's your take on tonight's data?
For detailed location and instructions, contact Sister Xin. The specific ambush point will be announced in the village! I'll not only provide signals, but also teach you how to combine technical and fundamental analysis to judge opportunities yourself, so you won't be a sucker!
