SOL experiences a $15 wide roller coaster in one hour! Will the battle between 160 and 140 ignite?
In this ever-changing cryptocurrency market, being able to sense market trends in advance is the path to victory.
Now, let’s take a look at SOL's one-hour candlestick chart. The chart clearly shows that today SOL's price has been swinging back and forth like a roller coaster - peaking at 158.68 USDT and dipping to as low as 143.58 USDT, but now it is stabilizing in a “box” around 146.25 USDT with fluctuations.
In simple terms, it’s neither rising nor falling significantly, just spinning in place. The trading information on the right side is even more compelling; look at those transaction records: a batch of orders at 146.25 USDT, with each transaction exceeding 135,000 SOL! What does this indicate? The market is as bustling as a vegetable market, with both buyers and sellers scrambling for deals, but no one is really gaining an advantage, hence the “you come and go” situation.
For example: those volatility lines, bouncing quickly from previous low points to over 150, are just like today’s situation - the price suddenly drops, everyone thinks it’s going to crash, but then it bounces back like a spring. Today was the same, with several fluctuations in just one hour. Based on this pattern, my personal view is quite straightforward: SOL is likely to continue this “oscillating dance” in the short term, not exceeding 160 nor breaking below 140. Why do I think so? Because the market activity is too high, everyone is on the sidelines. But this situation is not a bad thing; rather, it gives us short-term traders an opportunity. Stay calm, don’t rush, wait for the breakout signal before taking action!
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