5.10 SOL Market Impact Records
Today's SOL five-minute candlestick directly played out a "ECG-style lifelessness"—the price lies flat between $175 and $178, with the Bollinger Bands' upper and lower bands tighter than a novice's belt; the upper band at $179 is welded tighter than a prison wall, while the lower band at $175 is sparking from friction. The MACD dual lines are sticking to the zero axis and dancing the tango, with green volume bars continuously expanding, clearly showing that the bears are performing acupuncture on the bulls with a fine needle.
On-chain data is even more exciting: last night, a giant whale crazily dumped 1.21 million USDC to open a 20x short position on Hyperliquid, resulting in the price suddenly spiking to $172 this morning, almost forcing this guy to liquidate in tears, incurring a loss of $1.05 million on a single trade. Even more shocking is that the FTX liquidation account secretly transferred out 2,500 SOL in the early morning, coinciding with a million-dollar sell order popping up on Coinbase; the operator's "precise explosion" is more thrilling than a bomb disposal expert's work.
The news front is eerily quiet, but smart money has already taken action—American pharmacy giant Halo purchased $1.5 million worth of SOL to advance its crypto allocation, and they plan to establish a crypto lending subsidiary for collateral financing. This move is akin to injecting adrenaline into a dying patient, but unfortunately, the market isn't buying it, with the price stubbornly stuck at the strong weekly support of $175, playing dead.
Key attention should be on two fathers: if Bitcoin dares to fall below $60,000, SOL will absolutely lead the plunge; if the Nasdaq surges after opening, this high beta attribute can make it perform a 20% rise in no time. But remember SOL's ancestral skills— the more it consolidates like a dead fish, the more brutal the reversal will be; the violent surge from $68 to $126 last December could be replicated at any moment.
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