SOL plummets 1.5%: Is it a market shakeout or a trend reversal? #Hashdex推出XRP现货ETF
At this moment, SOL has dipped to $146.8, breaking through the 7-day moving average ($151) and the 30-day moving average ($149.8), clearly signaling a death cross warning.
However, upon closer inspection, the lower Bollinger Band is supporting at $148.9, which is precisely the bullish defense line during the crash on April 20.
The most surprising part is that the MACD's golden cross just emerged above water and was immediately crushed, with a 0.09 bar barely causing a splash—this market clearly indicates that the big players are playing a “double kill” game.
Three factors are tearing at SOL's price:
Bitcoin's siphoning effect: This morning, BTC suddenly surged to $70,000, and all the funds rushed to buy Bitcoin, causing the ALT sector to collectively crash.
According to CoinGecko, the SOL/BTC trading pair dropped 3.2% in 24 hours, confirming that the big brother is draining liquidity.
On-chain whale activity: A mysterious address transferred 290,000 SOL to Binance two hours ago, valued at $42 million at current prices.
However, on-chain data tracking reveals this address's cost basis is around $135, making this sale appear more like profit-taking rather than panic selling.
Positive ecosystem hedging: Solana's Phone Chapter 2 officially announced pre-sales exceeding 140,000 units this morning; this device can directly run on-chain DAPPs, but the market is not buying it at all—once again, a scenario where good news turns into bad news.
Let me give you some straightforward advice:
Short-term extreme drop target at $145.5, this level is the 38.2% Fibonacci retracement on the weekly chart; if it breaks, stop-loss immediately.
Mid-term entry point at $143, on April 12, institutions increased their holdings by 24,000 SOL through Grayscale, and this price level has strong consensus support.
Breakout signal to watch at $149.3, the dense trading area before this morning's crash is here; if it breaks out with volume, it indicates the market shakeout is over.
Be cautious of tonight's 20:30 US core PCE data! If inflation exceeds expectations, the entire crypto market might take another heavy hit.
Conversely, if the indicators are good, SOL is very likely to follow BTC with a violent rebound—those trading contracts must reduce leverage to below 3 times, don’t get caught before dawn.
On-chain mystical moment: SOL's current annualized staking yield is 7.8%, which is more attractive than 90% of DeFi mining pools.
This indicates that smart money hasn’t fled; they are all waiting to reap the next wave of bull market dividends...
Feeling confused? Can’t find a way out? Real-time trading contact #币安Alpha积分
