SOL life and death battle: The defense of 140 has begun, can the July ETF trigger a counterattack?

In a downtrend, support is not a floor but a glass plate; breaking or not breaking is a matter of life and death.

News front: The tug-of-war between bulls and bears intensifies.

  1. ETF countdown: The SEC may approve Solana ETF and Ethereum staking, along with crypto index ETF as early as July. If realized, it will reverse the current bearish sentiment and become the biggest positive factor.

  2. Institutions quietly bottom fishing: On June 16, listed companies spent 2.9 million HKD to buy 2,440 SOL, recognizing the value of 'high-performance public chain + institutional-level DeFi'.

  3. Risk event disturbance:

    • Liquidation alert: $140 becomes the 'life and death line' for bulls and bears. If it falls below, it could trigger a 30% drop to $100, with recent leverage liquidations exceeding $1 billion.

    • Security incident: A social media influencer lost 118 SOL due to malicious game software, reminding users to isolate crypto assets from high-risk devices.

Technical perspective: Struggling under the pressure of bears.

  1. Bollinger Bands opening downward: Price closely follows the lower track at 140.73, with the channel expanding like a 'downward slide'. A rebound requires breaking above the middle track at 155.6 to have a chance.

  2. MACD death cross acceleration:

    • DIF deeply trapped below DEA, red bars increasing, bearish momentum not exhausted.

  3. Volume divergence: Trading volume shrinks during the downturn, the market is quiet, and a strong bullish line is needed to reverse the downward trend.

Key level monitoring:

Support: 142.0 short-term → 140.0

Resistance: 155.6 Bollinger middle track → 159.0

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