The recent market of SOL can be described as a roller coaster, with the death line at 190! Should retail investors catch falling knives or buy at the bottom?
Brothers, today we are going to talk about $SOL , this coin has been quite interesting recently.
From a technical perspective, the daily MACD is about to form a death cross, and the RSI has fallen below 50. If it breaks the support level of 190, it may trigger a chain of stop-loss orders. The latest news adds more variables, with the first batch of locked tokens set to be released on July 28, potentially increasing the supply by 30%. Lion Group has added $7 million for a joint purchase of HYPE, SOL, and SUI tokens, frequently supporting the market.
On July 23, the price suddenly plummeted from the historical high of 206 back to around 190, with a 24-hour drop of 5.6%. The signs of a high-level dive are evident, with profit-taking and short selling intertwining, making the market instantly glaringly red.
But the more exciting part is yet to come. According to the latest data from Token Terminal, SOL is about to face an epic unlocking wave, as early investors' locked assets expire and project teams release incentives, leading to a massive amount of tokens flooding the market. The supply may increase by 30%! If the demand side cannot handle this wave of selling pressure, the price may plummet, and the risk for retail investors catching falling knives is extremely high.
Amid market panic, the giants are frantically buying! Lion Group Holding, listed on NASDAQ, directly invested $9.6 million to acquire 6,629 SOL tokens for the company’s treasury. DeFi Development Corp even raised $24 million specifically for increasing their holdings, while Classover Holdings is looking to buy SOL for staking and operating validation nodes. The institutions are clearly intending to support the market with real money.
The battle between bulls and bears has officially begun! On one side is the massive supply from the unlocking wave, and on the other side is the institutions’ frenzied buying, making the 190 level a critical point of life and death.
Retail investors entering the market now either get a big profit or become cannon fodder. If you want to profit, find Sister Rong to guide you!
