SOL Market Analysis: The consolidation phase is over, and the bulls are about to gain strength

After ETH broke 4000, market funds began to rotate to SOL and other leading projects in the ecosystem.

Although there was a deep consolidation in the earlier phase, last week's bottom formation with increased volume has already released a clear signal of a trend reversal.

1. Weekly level bottom formation completed

◦ A double bottom structure formed in the 150-170 range

◦ MACD weekly golden cross, which is a sign of a strengthening mid-term trend

2. Healthy price-volume relationship

◦ Last week's rebound was accompanied by a 30% increase in trading volume, indicating new funds entering the market

◦ The current price level of 183 is still within the main cost zone for the big players (on-chain data shows large addresses continuously increasing holdings around 180)

Current price of 183 can be seen as an ideal position for adding to positions:

This level serves as support from the 20-day moving average and is also a confirmation of the short-term target after breaking the previous high

First look for the weekly resistance at 196

The DeFi TVL of the SOL ecosystem has risen back to 2.5 billion USD, and the activity of meme coins has also increased. This fundamental support is more sustainable than pure speculative trends

Now is an excellent opportunity to position, as quality public chains often rebound quickly and fiercely in a bull market.

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