8.5 Evening SOL: Breaking News! SOL is at a critical juncture, hanging by a thread; is it a desperate comeback or a plunge into the abyss?!!

Let's take a look at the 1-hour K-line chart for SOL. Previously, SOL's trend was like being pressed down by an invisible giant hand, hitting a strong resistance level and sliding downwards. The whales' sell-off only added fuel to the fire, making the decline unstoppable.

However, upon reaching the strong support level, it was as if it had fallen onto a soft cushion, and the price began to stabilize, showing signs of market rebound. Now at this critical juncture, it's like standing at a crossroads, needing to carefully consider which direction to take next.

From a technical perspective, if SOL can successfully break through the resistance above this critical point, the rebound may evolve into a reversal, with the price likely to continue climbing. After all, it has dropped so much previously, and there is a demand for market correction. But if it cannot break through, it may continue to hover around this critical point, or even potentially turn down again to test the support below.

In terms of market sentiment, retail investors are currently quite cautious, observing whether SOL can truly establish a foothold. If more buying pressure enters the market and confidence is restored, the probability of SOL rising increases. Conversely, if selling pressure continues to increase, the risk of decline remains.

I believe that SOL may oscillate around this critical point for a while, digesting the previous pressures of rising and falling. It depends on whether there are any new favorable or unfavorable news to stimulate the market.

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