1. Technical Analysis
Currently, the 5-minute increase in SOL has formed a MACD divergence, and the upward trend has terminated. According to Chan's theory, there are only three states in the trend: upward, consolidation, and downward. It has now shifted to a consolidation trend, and it is not recommended to operate in this consolidating trend structure; otherwise, one may easily face 'back-and-forth slaps' from the market, as both bulls and bears sweep. The best strategy is to wait for one side to emerge victorious, at which point a large candlestick (either bullish or bearish) will signal the entry opportunity.
2. News Analysis
1. Institutional Collaboration: Formed a strategic partnership with Google Cloud, which becomes a Solana validation node and integrates Solana Pay to explore offline payments.
2. Approved Fund: AAX Exchange establishes a $10 million ecological fund, listing tokens like SOL and RAY to accelerate ecological expansion.
3. ETF Expectations: Institutions like BlackRock explore Solana ETF, approval could bring in hundreds of billions of traditional funds
4. Technology Upgrade: Solana's core development team Anza announced the adoption of the Votor mechanism, allowing direct communication and tiered voting (80% support from staked nodes for a single confirmation, 60% requires two rounds), reducing delays and enhancing attack resistance.
5. Whale Sell-off: On May 26th, SOL dropped to $170.41 due to suspected institutional sell-offs (a decline of 4.5%), involving large transactions of 1.26 million SOL.
