SOL Today's Market Update! Holding above 173 to call a bull?
At first glance, Fengyun noticed something was off — SOL is grinding around 171.68 USD during this wave of five-minute K-lines, with the middle Bollinger Band at 169.95 USD supporting the price, and the upper band at 173 USD pressing down like the tight headband on Sun Wukong. The daily Bollinger Bands are closing tighter than a waistband, clearly indicating that the larger cycle is holding back a big move. Right now, reaching upward is like licking blood off a blade, while kicking downward is a bottomless abyss.
1. Technical Analysis: MACD Red Bars Playing Games
Don't be fooled by the QMACD bars just turning red; the two brothers DIF and DEA are being ambiguous at positions 0.27 and 0.4, a typical sign of a top divergence. The four-hour RSI is stuck at 52, neither up nor down, while the daily RSI has surged to the overbought warning line of 70.85, ready for a script of high and then retreat. The most critical issue is the trading volume; as the price moves up, the volume shrinks like dehydrated vegetables. This kind of impotent rise is 90% likely a result of market manipulation.
2. News: Giant Whales Hammering the Market
Nasdaq-listed company Mode Global Holdings just announced holding 100 million USD in SOL as reserves, and immediately, a giant whale 0xb83d poured 12 million USDC into HyperLiquid to short, using three times leverage against ETH/SOL/BTC, with a total position of 68.9 million USD facing a floating loss of 3.32 million still holding on. Pump.fun transferred 132,000 SOL to Kraken this week, having sold 3.868 million SOL over the past year at an average selling price of 183.3 USD, which is just at today’s resistance zone.
3. Oscillating Highs but Ready to Change
Personally, I judge that SOL will form a converging triangle today, possibly playing around 169-173 USD during the day, and might choose a direction influenced by CPI data during the US market session. Pay attention to the volume in the first two hours after the US stock market opens; if Nasdaq can hold above 18,708 points, SOL may have a chance to rise; if the general market drops, the support at 161 USD may not hold. Remember, the current market sentiment is hanging by the US-China tariff agreement, with a 90-day grace period sounding favorable, but in reality, it’s the sword of Damocles hanging over us — play it safe and calm, or wear a helmet if you're going for a lively approach.
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