After the surge of $SOL , isn't it time for a pullback?
The daily chart shows SOL forming a 'W' shaped bottom reversal, breaking through short-term moving averages with a golden cross, indicating a bullish dominance.
The MACD indicator shows that the upward momentum needs to solidify, or it may enter a short-term consolidation.
In the seven-day cycle, SOL liquidation is concentrated around 172, making this price level a key battleground for bulls and bears.
In my personal view, the short-term trend depends on the support level at 172. If it holds without negative impact, the price may rise or fluctuate upwards with the advancement of the ecosystem; if it breaks down, it could fall back to 165 or 160 dollars.
In the long term, Solana holds a significant position in the NFT and DeFi sectors due to its technological advantages. With technological upgrades and ecosystem expansion, there is considerable growth potential, but regulatory uncertainty remains a major risk.