Attention Bulls! The SOL range oscillation hides a trap, the life and death line at $149 will surely be broken tonight.
Today, the SOL market has followed a typical "range oscillation" script - the price has repeatedly fluctuated in the $149-$154 range, with both bulls and bears fiercely competing around $152. From the 4-hour candlestick chart, the breakout of the rectangular consolidation pattern is accompanied by moderate volume, but the resistance level at $155 hangs over us like the sword of Damocles. This level is not only a previous high pressure zone but also a dual test of the 30-day EMA and the integer level.
Although the MACD histogram remains negative, the red bars are continuing to narrow, suggesting that the bulls are quietly gaining strength; the RSI has fallen to the oversold zone at 27, and historical experience shows that this position often breeds a rebound. However, the risk of divergence between volume and price still exists - when prices surge, the trading volume has not increased in sync, like pressing the gas pedal of a car to the floor but the RPMs don't keep up, this kind of "false rise" is prone to triggering a pullback.
Positive news: Binance has launched SOL options contracts, broadening the entry channel for institutional funds, akin to giving the market a strong dose of adrenaline; Solana has reached a strategic cooperation with a leading NFT platform, expanding ecological application scenarios, which in the long run seems like giving the coin price a turbocharger.
Negative news: DAPP trading volume within the ecosystem has declined for three consecutive weeks, and some project parties have been reported to have abnormal locked positions, which is like having a few leaking cabins hidden beneath a luxury cruise ship; expectations for a Fed interest rate hike in July have risen, putting collective pressure on global risk assets, with SOL, as a high-volatility asset, being the first to feel the impact.
The current market is in a "news vacuum period," with technical factors dominating short-term trends. $149 is the life and death line - this level is both a previous low support and corresponds to the RSI oversold zone. If it breaks down effectively, it could trigger a "bull slaughter" sell-off; conversely, if it can stabilize above $155, with trading volume breaking $2 billion, SOL is expected to replicate the March performance, targeting the $160-$165 range.
Tap the avatar, follow me, and don't miss any first-hand information updates! Let's head to the bull market feast together!
