Market context: Narrow fluctuations, news stirring beneath, waiting for a breakthrough.
Brothers, I've been watching the market all morning, and SOL's movement is just like a 'sandwich market'—squeezed from both sides, hard to advance or retreat. The latest price is hovering around 147.78 USDT, making it dull to watch, but this often signals a trend change.
Upward attack? The ceiling is thick and heavy! The dark clouds above (148 - 154 range) are not just decoration. The key resistance levels marked on the technical chart at 50.04(150.40), 2.64(153.59), and 0.04(158.93) are like layers of steel plates. Especially in the 150-154 area, historical K-lines clearly show repeated attempts to break through being ruthlessly pushed back, with sell orders piled high (148, 149…154) serving as strong evidence. A large number of profit-taking and exit orders are watching closely, waiting for the price to rise to 'unload'. Without massive buying or significant positive news, breaking through will be as hard as climbing to the sky.
Downward probe? The floor is temporarily solid. The 145-144 range beneath is a fortress that the bulls are guarding fiercely. The key support levels marked at 00.05(144.61) and the watershed at 1.86(146.50) have gathered a lot of bottom-fishing orders (with limit orders concentrated below 147.5). As long as there is no panic selling, it won’t be so easy to break down. As for the support at 38.24(143.00)? Too far away; by the time we get there, the market will have already turned bearish.
Today's key variable: Underlying currents in the news.
The market is dull, but the news is stirring things up:
Positive news glimmer: Visa's expansion plan details have been announced. Payment giant Visa further disclosed details of utilizing Solana for stablecoin settlement expansion this morning, continuously strengthening its narrative of a 'high-throughput payment chain', boosting the ecosystem (like Jupiter) and providing psychological support for SOL, explaining the resilience of buying below.
Negative concerns: Expectations for spot ETF cooling down & DeFi liquidation turmoil. Market expectations for Solana's spot ETF approval in the short term have significantly cooled (compared to ETH ETF), and some funds are becoming cautious. Meanwhile, there was a small abnormal liquidation in a certain Solana DeFi protocol today (though not a major risk), which touched a sensitive nerve, adding resistance to upward movement. These two factors suppress prices, resulting in insufficient buying strength.
Chan's perspective: The watershed determines the universe, patience is golden.
Combining technicals and news:
The core battleground is the 'watershed' at 146.50! This is the psychological battleground for both bulls and bears. The price is sticky between 147.75-148, with both sides waiting for an 'external force' to break the balance.
Upward breakout signal: SOL must stand firmly above 148.00 with volume (obvious increase!) to mean that the bulls have the strength to challenge the upper 'steel plate'. The first target is 150, but the pressure between 150-154 is heavy; the first touch will likely bounce back, so don’t blindly chase the high. Visa's favorable news may be a spark.
Downward breakout alert: Effectively break below 147.50 and close beneath it, especially accompanied by negative news (regulation, market drop, ecosystem negativity), then be cautious. The next target aims straight at the 145-144 core support. If it fails to hold, the short-term trend will weaken. Watch out for potential chain reactions from minor DeFi turbulence.
Practical strategy: Act calmly and strike decisively.
Most avoid unnecessary actions:
Observe more, act less, control your hands! Opening positions in the middle can easily lead to stop-loss.
Focus on key orders:
Break above 148.1 and stabilize (1-2 candles confirm) -> Lightly long, target 149.5-150.5, strict stop-loss below 147.5. Take profits when you can!
Break below 147.3 and confirm (especially with volume) -> Lightly short or exit, target 146.5-145.5, strict stop-loss above 148. Pay attention to resistance at 145.
Keep an eye on the news: Is Visa fermenting? New ETF dynamics? Sudden regulations or risks? All could break the deadlock.
Entering must have stop-loss! Prevent losses from spikes, a life-saving rule.
How long can SOL's 'bench market' hold? Will it take advantage of Visa's wind to break through the ceiling, or will it be crushed by the cold winds of ETFs to the floor? Key K-lines from tonight to tomorrow morning will reveal the answer! Chan's live stream is closely monitoring the breakout signals, waiting for you to join the fight! The direction is about to emerge!
Still holding out alone? Pay attention to the injection of Chan's convergent energy team! It only activates the infinite potential of ambitious madmen!