Market breakdown:
Technical stalemate powder keg:
Price is stuck at the micro battle zone of 158.40-158.49, with sell orders capping (158.47-158.49) and buy orders supporting (158.40-158.43). The order ratio +0.02% is pure psychological warfare; whoever withdraws their order admits defeat!
The upper level of 159.88/160.19 is the bears’ ‘iron defense line’, breaking through = igniting FOMO. The lower level of 156.92 (78.6%) is the first support, 154.85 (61.8%) is the lifeline, breaking could drop to 152-153 or even test the integer bottom of 150. Today's news has both bullish and bearish games:
Bear ammunition (solid bad news):
The popular meme coin in the Solana ecosystem, the BOME project team sold 140 million tokens (about $2 million) in the morning, although they claimed it was for ‘wallet migration’, but on-chain data solidly triggered panic. History repeats itself: similar operations previously caused SOL to drop 3.5% in 3 hours (case: May BONK team selling event).
Bull's trump card (ecosystem resilience):
The daily trading volume of NFTs on the Solana chain surged against the trend to $1.8 million (DappRadar 7/10 data), with the top project Mad Lads maintaining a floor price of 135 SOL. More crucially, the liquid staking protocol Jito (JTO) was bought up by a mysterious address with 250,000 tokens (about $500,000), with JTO's correlation with SOL exceeding 80%. This anomaly suggests that a big player is betting on ecosystem recovery.
Core perspective of convergence:
Countdown to change at the ‘tip of the triangle’:
The 1-hour K-line has narrowed to a symmetrical triangle (high point 159.88 → 159.30, low point 156.92 → 157.50), the change is like an arrow on the string! The main force may use BOME's bad news for a ‘fake fall washout’: first break 158.40 to trigger long stop-losses, then reverse and pump to absorb chips.
Volume determines truth or falsehood, news assists in ups and downs:
To break 159.00, volume needs to increase to above 5000 SOL/hour; otherwise, it is a ‘trap for inducing longs’. If it breaks down with increased volume below 156.92 (volume > 8000 SOL), it will turn bearish in the short term.
158.4x ‘chip peak’ victory:
Here is a pile of 75% short-term chips across the network. If it stabilizes, the bears will collapse; if it breaks down, the bulls will trample. The main force will repeatedly strangle retail investors here!
If the ‘fake fall’ washout is in place, the ‘diamond pit’ at 154.8 is a money-making opportunity. Are you still licking the leftovers of the market makers? Focus on convergence! I grant you the knife to cut the main force's throat to strike at the first moment of the market!