$SOL Days of Intense Competition, Hidden Signal of Trend Change Amidst Sideways Fluctuations
Today's Solana (SOL) market can be described as 'selling pressure above, support below', with both bulls and bears pulling back and forth at a key position. From the 4-hour perspective, the current price of $203.9 is closely below the resistance of $208, clearly becoming a decisive factor for the short-term direction.
On the news front, the Solana ecosystem has been quite active recently. Early this morning, the Solana on-chain NFT market Magic Eden announced the launch of a new cross-chain staking feature, allowing users to transfer Bitcoin ecosystem NFTs to Solana for liquidity mining. This innovation attempts to break down inter-chain barriers and may bring additional funding and attention to $SOL . However, on the other hand, the Federal Reserve's meeting minutes are set to be released tonight, and market sentiment is cautious, with Bitcoin fluctuating around $69,000, which indirectly suppresses SOL's breakthrough momentum.
From a technical perspective, the BOLL bands continue to narrow (upper band 205.26, lower band 186.48), and the price is currently above the middle band at 195.87, indicating that the larger trend has not yet deteriorated, but volatility is clearly contracting—just like a spring that is compressed tighter, the force of its release will be stronger. In the MACD indicator, the DIF (2.77) is still above the DEA (1.62), but the red energy bars are noticeably shrinking, and the trading volume continues to diverge, suggesting insufficient upward momentum in the short term.
I personally believe that SOL is currently in a 'building momentum phase'. Looking back at the breakthrough in early May, SOL also suddenly surged 20% after the BOLL bands narrowed. The current shrinking volume seems more like the main players are washing out and accumulating positions rather than unloading. Especially since the TVL of Solana's DeFi protocols (such as Jito, Marginfi) has been steadily recovering recently, the underlying fundamentals are still being reinforced.
In terms of operation, the key is to observe whether $208 can be broken with volume. If it stabilizes, the next target could be the $213-215 resistance area; if it falls below the short-term support of $204, it may retrace to the middle band at $196. Short-term players can trade between $204-208 with high sell and low buy, while medium-term holders are advised to ignore fluctuations and focus on holding until the next wave of ecological explosions (such as RWA staking or the restart of AI concepts).
Tonight's U.S. market session is particularly critical! After the release of the Federal Reserve minutes, if Bitcoin can stabilize above $70,000, $SOL will likely follow suit for a rebound. After all, 'when Bitcoin moves, altcoins dance' is an iron rule in the circle.
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