"SOL's K-line is like a roller coaster; you think it's going to surge to the top, but the next second it might dive—today's market once again verifies the truth of the crypto world: when the trend is unclear, both bulls and bears get slaughtered!"
Today's SOL Market Deep Analysis
1. Technical Front: Key level breached, the bear's blade has fallen.
From the 1-hour K-line chart, SOL today staged a 'textbook-level' downward script:
"Turning Point" Breached: The price in the morning repeatedly rubbed against the 131-134 range but was always firmly pressed down by the 61.8% Fibonacci retracement level; the middle Bollinger Band at 131.8 became the short-term dividing line between bulls and bears.
MACD Below Zero Death Cross: DIF (-0.49) and DEA (-0.58) had a 'death cross' below the zero axis, the histogram turned green and expanded, a clear signal of bear acceleration. Old traders in the circle know that this pattern also appeared before SOL's 20% drop in May 2024; history is always remarkably similar!
Liquidity Hunt: The position 134.06 has been repeatedly marked; here is the previous low support + the dense area of 'big orders' by the main force. Sure enough, an afternoon wave of selling directly broke through, triggering a series of liquidations for high-leverage bulls.
Anna's Blood and Tears Experience: In early June, SOL dropped from 160 to 130, first breaking the lower Bollinger Band and then exploding in volume; the scheming of the market makers never changes!
2. News Front: Three major negatives piled up, adding insult to injury.
Coinbase's Stab: An unexpected announcement this afternoon suspended the on-chain USDC deposits and withdrawals for SOL, citing "cache vulnerabilities that could lead to double spending." Although the Solana Foundation quickly refuted this, the market simply doesn't buy it—after all, the deep history of SOL chain outages in 2023 is too profound.
Jump Trading's Dumping Evidence: On-chain data shows that a certain whale deposited 370,000 SOL into Binance before the crash, worth over $50 million. This operation is reminiscent of Alameda's sell-off before FTX's collapse last year, clearly indicating 'runaway-style unloading.'
Fed's Stab: The evening FOMC meeting minutes released hawkish signals, leading BTC to plunge, and SOL, being a high Beta coin, naturally fell even harder.
Little Knowledge: The 30-day correlation between SOL and the Nasdaq index has risen to 0.78; when macro trembles, altcoins shiver!
3. Anna's View: Don't rush to bottom fish!
As a veteran who has experienced three rounds of bull and bear markets, I summarize SOL's two fatal flaws:
"Fragile Consensus": The ecological prosperity of SOL heavily relies on institutional market making. Once the big players withdraw the ladder, retail investors simply can't hold the market.
"Technical Debt": Although TPS is highly touted, historical loopholes frequently emerge. Today's Coinbase announcement once again amplifies the trust crisis.
Current Strategy:
Short-term: Wait for the MACD histogram to shrink + 4-hour RSI to return above 30 before considering a rebound.
Long-term: Watch whether the Solana Foundation can fix the loopholes within a week; otherwise, it may replicate the 'three consecutive shadows' trend of June.
The current question is: When the support of 134.06 turns into resistance, will SOL repeat the tragedy of the 'ankle chop' in May? Share your judgment in the comments; tonight, we'll analyze the schemes of the market makers in the fan group, and Anna will send you a (beginner's basic manual)!