The technical foundation for SOL is currently strong for bulls, but there is potential for short-term short positions during pullbacks. After breaking through $190 on the daily chart, the ascending flag pattern is clear, with a measured price target of $238; the weekly V-shaped reversal pattern is also forming, and holding above $200 could lead to a challenge of the $260 neckline. However, indicators are showing overbought signals — RSI is close to the critical value of 70, and while the MACD histogram remains positive, it is continuously shrinking, indicating accumulating short-term pullback pressure.

The on-chain ecological support is indeed solid: the current TVL is $11.336 billion (up 1.4% in 24 hours), with stablecoin reserves at $11.683 billion and ample DEX liquidity. Large fund movements are also positive, with a new address withdrawing 80,000 SOL ($16.28 million) from Binance for staking; institutions like SOL Strategies are holding over 400,000 SOL and continue to increase their positions, reinforcing the long-term value consensus. Network activity is also impressive, with daily transactions exceeding 100 million, over 500,000 active wallets, and DeFi protocols like Meteora having a TVL exceeding $750 million, showing no signs of slowing down in ecosystem expansion.

In terms of operations, it is recommended to short around $203.5-$205.2, with the first target at $199.8; if broken, look down to $195.5. A stop-loss must be set above $207 to guard against false breakouts. #solana