May 31st SOL Analysis

Current Price: 153.71

24H Price Change: -5.74%

Net Outflow: -208 million

Market Analysis:

SOL continues to show weakness in the short term, with K-line consolidating at low levels, and no strong rebound signals observed yet. The Bollinger Bands on the hourly chart are narrowing, with the lower band (152.06) being tested repeatedly, indicating a clear bearish dominance.

Capital flow remains negative, and market confidence is weak, adjusting along with mainstream cryptocurrencies.

On the news front, as the Memecoin craze cools down, market speculative sentiment declines, and SOL itself lacks independent favorable stimuli.

Key Levels:

Upper Resistance: 156.78 (BOLL Middle Band) / 162.35 (BOLL Upper Band)

Lower Support: 152.06 (BOLL Lower Band) / 150 level

Short Positions: If the price rebounds to the 156.5-157 range and faces resistance without breaking, consider taking a light short position, targeting 151-150.

Long Positions: If it directly drops to 150-151 and stabilizes with significant rebound volume, you may try to buy at a short-term low, targeting 156.