Cryptocurrency Insight: The sideways movement of SOL is false, the night before the surge is true! Dare to drop below the support level of $182?!
Technical Analysis: $182 is the dividing line between bulls and bears, sideways movement brewing signals of change
From the 1-hour K-line chart of SOL, the current price is forming a critical support level around $182, while the resistance level at $210 is like a 'moat'. This sideways pattern has lasted for several days, with no significant increase in trading volume, but the frequent appearance of doji candlesticks suggests a stalemate between bulls and bears.
Three major technical signals to be cautious about:
Divergence in moving averages: The previously bullish arrangement of moving averages has shown divergence, with the 5-day and 10-day moving averages crossing below the 20-day moving average, indicating short-term pullback pressure; however, the 60-day moving average remains stable above, suggesting that the medium to long-term trend is intact.
Concerns of volume-price divergence: Although the price has stabilized at the $182 support level, trading volume has not increased in tandem. If subsequent rebounds lack sufficient volume support, it may trigger a 'false breakout' trap.
Bollinger Bands contraction: The distance between the upper and lower bands has narrowed to a $15 range, indicating that a window for change is approaching, and the direction of the breakout may be catalyzed by news.
News: $746 million in tokens set to unlock soon, ecological expansion hedges supply pressure
The most significant news in the crypto market today is that SOL will see the unlocking of $746 million in tokens. This massive supply, accounting for 0.77% of the circulating supply, may exacerbate price volatility in the short term. However, the market has already taken precautions:
In the short term, the probability of SOL oscillating between $182 and $210 is quite high!!!
Exclusive trading advice from Tege:
Short-term: Watch the $182 support level; if it breaks, you can lightly short, targeting $170; if it stabilizes above $190, you can go long to $200.
Long-term: Gradually accumulate in the $170-$180 range, with a target price of $250 and a stop loss set at $160.
Conclusion: Sideways movement is not the end, but the starting point for choosing a direction
The sideways movement of SOL resembles the calm before the storm. When technical change signals meet policy benefits, the key to winning this game may well lie in the next breakthrough candlestick. For investors, rather than predicting the wind direction, it’s better to fasten your seatbelt—after all, in the crypto market, the only certainty is uncertainty itself.
Tege's scythe is faster than the market makers! Follow me, and I'll teach you how to turn the tables on the market! #solana #美国7月PPI年率高于预期
