#币安Alpha推出MERL交易竞赛

5.20 Evening Market Overview: SEC Delays SOL Spot ETF Application

The SEC temporarily delayed the SOL spot ETF application this morning, needing more time to assess related legal and policy issues; however, this does not serve as a reference for rejection or final approval.

The recent rebound in SOL peaked at 184.83 before facing resistance and beginning to correct, ultimately forming support at 159.28 after a total pullback of 25.55 points; however, this can be considered a healthy correction, as a significant rise often requires a retraction before it can rise higher back to the 200 level.

Currently, SOL appears to be forming an equal triangle, having repeatedly tested and formed support at 165.14 without breaking through, while also resonating with the upward trend line. We are waiting for another right-side retest that does not break down or a drop back to test the upper 165.14 for long positions, with a stop loss at 162.37 and a target of 170; alternatively, we can wait for a breakout above the resistance line at 169.56 to enter long positions, with a stop loss for protection and targets at 171.68 and 175.17.

The equal triangle offers opportunities for both bulls and bears; one could also anticipate a short position at the upper resistance line of 169.56, with a stop loss at 171.68 and a target of 165.14; or enter short if it breaks down below the upward trend line without a retest, with a stop loss at 168.87, targeting around 162 and 160.

For spot trading, one can enter a position around 157, with 145.57 and 131 being good levels for staggered additional purchases.

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