$SOL

Summary of Recent News

Negative Pressures: The FTX platform confirmed that it will distribute $5 billion in assets to depositors starting May 30, which led to the withdrawal of about 1.4 million SOL (valued at approximately $236 million) and increased short-term selling pressures.

Divergent Forecasts:

Some analysts expect the decline to continue to the $161–$162 area by the end of May before any potential recovery.

Others are observing a “Cup and Handle” pattern on higher time frames with an upward target that could reach $200–$220 if a real breakout occurs at $185.

<<<< Practical Recommendation >>>>

For short-term traders (Scalping/Day-trade):

Wait for a test of the support area $167.6–$166.5, and enter a buy trade provided a clear reversal candle appears (such as a “Hammer” or “Engulfing” with high volume).

Set a stop loss a few points below $166.5, and take initial profits around $171.6–$172.

For medium-term traders or those seeking to continue the decline:

A sell (Short) position can be opened if $167.6 is broken with a pattern of “two consecutive bearish candles” with a stop above $170.

Target: $162, then $155–$160 if the bearish momentum continues.