$SOL Can I buy now? My true thoughts are all here!
Looking at this 15-minute candlestick chart makes me furious. SOL is being firmly pressed down by two key moving averages, 158 and 159. The buying power is as weak as if no one has eaten, and the trading volume is also dead.
This kind of movement only means one thing: the market simply does not want to rally! There are far more sellers than buyers today, and three things contributed to this poor performance: first, the Federal Reserve delayed interest rate cuts, dragging the entire crypto circle down with it, with BTC leading the decline and SOL, a highly volatile coin, bearing the brunt;
Second, the Solana ecosystem just had a crisis last week, with a DeFi project absconding with 20 million dollars, creating panic among people; third, ETH suddenly released upgrade news, all about speeding up and reducing costs, directly stealing SOL's heat.
The bulls and bears are arguing fiercely. The stubborn bulls shout to buy at 150 with their eyes closed, saying that TVL is stable and institutions haven’t run away; the slippery faction directly advises against touching it, warning that if it breaks below 155, it will accelerate the decline; the stubborn bears are even harsher, saying that SOL is overvalued by 30% and that one should run at the first sign of a rebound.
I’ll tell you directly: don’t hold out hope in the short term! The market lacks volume and good news, and is being pressed down by the moving averages. 157 can’t hold at all, and if it breaks 155, don’t stubbornly hold on, as it could very likely head straight for 150.
But when it comes to future value, I must be honest: SOL is something that makes people both hate and love. Its speed is indeed fast, but the ecosystem is like a minefield, encountering shutdowns and crashes. Every time it seems to be dying, it relies on meme coins to survive.
Its lifeline is in someone else’s hands; it depends on BTC’s performance and ETH’s upgrade results. We also have to pray that no more black swans appear. However, in the long run, as long as the team doesn’t turn into waste and launches a blockbuster application, SOL remains the most daring coin to surge and plummet in the public chain realm.
Opportunities are fleeting, a correction is imminent, and now is the time to accumulate spot positions and seize huge profits from meme coins! Doubling your investment is not a dream; click on my avatar and follow me to join the bull market feast!