SOL Panic in 24 Hours! Last Night's Plunge Truth Exposed, Should We Buy the Dip or Escape Today?
Last night's SOL market was even more thrilling than a roller coaster!
Today, let's combine the latest news and the 1-hour K-line chart to uncover the inside story of this plunge, and figure out what to do today!
1. News: Two Major Black Swans Strike!
1. Regulatory Hammer Falls Again
Latest news this morning: The US SEC suddenly postponed the final approval of the Solana ETF, originally scheduled for a result on August 5, which disappointed market expectations, leading to urgent withdrawals of institutional funds.
The South Korean Financial Committee also spoke out, planning to include SOL in the “high-risk token monitoring list,” triggering panic selling among retail investors in Asia.
2. Technical Analysis: K-line Chart Already Gave Warning!
1. Bollinger Band “Death Squeeze”
Before the plunge, the price was already tightly pressed against the upper band at 203.44, a critical resistance level, and the Bollinger Bands suddenly narrowed, which is a typical reversal signal!
2. Key Levels “Triple Line Collapse”
Resistance at 195: Multiple failed attempts to break through, forming strong resistance.
Key level at 189: After being broken with high volume, it triggered a technical stop-loss avalanche.
Support at 185: Although there was a brief rebound, the trading volume was sluggish, indicating that dip-buying funds are not buying in!
3. Personal Opinion: The Truth Behind the Plunge
This plunge was not an accident, but rather a “news + technology + emotion” triple kill situation:
Short-term negative factors are not exhausted: After the SEC postponed the ETF approval, more negative news may come in September, causing institutions to be cautious.
Main forces taking the opportunity to wash positions: Large whales selling off in conjunction with regulatory news clearly aimed to create panic and accumulate at low prices.
Market ecosystem remains intact: The TVL on Solana chain is still among the top three, and ecological projects have not withdrawn large amounts of capital, long-term logic remains unchanged!
4. Today's Strategy: Prioritize Stability!
1. Short-term
If the 185 support level is broken with high volume, decisively stop-loss!
If the rebound does not exceed the 189 key level, it’s a trap for enticing buyers, don’t catch falling knives!
2. Medium-term
Keep a close eye on the SEC’s new developments in September, if the ETF is unexpectedly approved, immediately chase the rise!
If it sharply drops to the 175-180 range, it can be built up in batches.
Remember: Bull markets often see sharp declines, a wash is healthier!
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