Hello friends, happy Thursday! 👋 Recently, Solana (⟨t-97⟩) and Dogecoin (⟨t-99⟩), these two hot cryptocurrencies, have started to move again, and the market seems to be secretly brewing a rebound.⟨t-101⟩

Is everyone also pondering: is this opportunity really here, or do we have to wait a bit longer? Don't rush; let's figure it out together! 👇

Solana has rebounded, and the futures trading volume has reached an all-time high 📈

Recently, Solana's price has been hovering around $145, looking like it's waiting on the sidelines. Interestingly, those 'big whales'—the large capital players—are quietly increasing their positions.

The CME's Solana futures trading volume has hit a record high, reaching an astonishing 1.75 million contracts, and the open interest has surged to $6.1 billion, the highest level in three months.

This surge in trading volume is not simple ⚡

In fact, this surge in trading volume occurred after the market experienced several weeks of sideways movement and overall sluggishness. Notably, the rise in trading volume in May had previously foreshadowed the upcoming significant fluctuations.

So, this rise is likely not just a false alarm; volatility should return soon.

What does history tell us? 📊

The last time the number of open contracts increased while the price was falling, Solana's price surged in the following weeks.

This indicates that the market may be preparing for a high-risk, high-reward situation.

However, whether it will rise or fall still needs the market to provide an answer.

Technical indicators give Solana a 'score': currently not optimistic enough ⚠️

Although Solana's price rebounded, the technicals are still quite tangled.

For example, the RSI is only 45.7, indicating that buying and selling power are roughly equal, with no obvious buy signals. The MACD still looks bearish, and there is no 'golden cross' confirming a reversal.

In addition, the trading volume is not strong enough, and the rebound has not broken through the critical resistance level of $147, indicating that buyers have not yet entered the market on a large scale.

To summarize: this rebound seems more like a small breather for the market; the real rise depends on whether there can be stronger momentum in the future.

Dogecoin is also joining the fun, preparing to rebound? 🐕‍🦺

Speaking of Solana, let's take a look at the cutest cryptocurrency in the market, Dogecoin. Recently, Dogecoin's price tested the critical support level of $0.142 again, which has been an important bottom line since April this year.

Although Dogecoin saw a rise in May, overall it is still fluctuating within a range without a significant breakthrough. On the technical side, there are bullish signs, but the internal structure is a bit complex and shows some bearish signals.

Key level: For Dogecoin to reverse, it must break through here! 🏁

To completely change the trend, Dogecoin must break through the local high of $0.259. This level is like a 'threshold'; breaking through it will indicate that buying power has strengthened.

However, the good news is that the recent buying pressure is relatively decent, even though the overall trading volume is low, the market may be waiting for bigger moves.

The liquidation heat map tells you where Dogecoin might go next 📊

According to the market liquidation heat map, the liquidity between $0.145 and $0.162 has already been consumed.

In other words, the 'buying and selling power' in this price range has already been digested by the market.

Next, $0.173 and $0.182 become new potential resistance points. Further out, the area around $0.2 is a rebound target favored by many traders.

If you are a swing trader, you might consider setting a stop loss near $0.154, with a target in the $0.198-$0.2 range, which can help control risk while seizing potential rebound opportunities.

Summary time 📝

  • Solana: Large capital has entered, but the technical indicators have not confirmed a reversal; the rebound feels more like a breather, and bulls still need to work hard.

  • Dogecoin: Price fluctuations are significant, and the key is to break through $0.259, with short-term rebound targets looking towards $0.2.

The cryptocurrency market is always full of uncertainties, with the ups and downs driven by the struggles of major players. When investing, don't blindly follow the trend; rational judgment is the key to winning!

✍️ DYOR, manage risk well, and may everyone set sail in the cryptocurrency market! 🌊

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