In times of market panic, it is precisely when the wise make their moves. Every deep dip of SOL is indeed for a higher jump.
I suddenly discovered an astonishing pattern while watching the market: SOL often creates new highs after sharp declines. This time, history may repeat itself! The current price of SOL at $208 is at a critical juncture. A large holder with ten thousand SOL once revealed: 'A sharp drop is not a risk, it's an opportunity where the market gives money.' This statement has lingered in my mind.
Why do I say this? Because the main players attract buy orders below through temporary pullbacks to accumulate energy for subsequent rises.
1. Observing the market, SOL is on the verge of gaining momentum.
Looking at the recent trends, SOL has shown strong support at the $200 mark. Although the market is highly volatile, the price consistently recovers strongly, indicating that the main players have set up a solid buying defense below $200.
From on-chain data, the Solana ecosystem remains active. The Total Value Locked (TVL) has reached $11.336 billion, with a 24-hour increase of 1.40%. The market cap of stablecoins is close to $11.683 billion, providing liquidity for DEXs and lending protocols. The DeFi performance of the Solana ecosystem is particularly impressive, with DEX trading volume approaching $430 billion since January 2024. This level of activity is hard to match by other public chains.
2. Simple methods of trading often yield the highest profits.
Many people ask me what the secret to trading cryptocurrencies is, and I always love to tell the story of a friend who turned 100,000 into 20 million in three years. He didn't rely on insider information but used a set of 'simple methods' to grind through the market.
His first principle is: A sharp rise followed by a slow decline is a washout, while a sharp drop followed by a slow rise is a trap. Comparing with SOL's current trend, several days of slow decline is indeed a characteristic of a washout, right?
The second principle: Volume at the top indicates survival, while volume at the bottom indicates a bottom. Look at SOL's current trading volume, the 5-day moving average trading volume is 1.428 million, and the 10-day moving average trading volume is 1.469 million. Stable capital inflow provides support for price increases.
3. Key position, breakthrough is imminent.
My view is clear: as long as SOL breaks above $217, it will continue to push up and even challenge $240. What's the logic behind this?
$217 is an important resistance level from earlier periods. Once effectively broken, it will trigger a chain reaction of short covering and long position accumulation. Market sentiment will quickly shift from wait-and-see to active buying.
Technical indicators also support the bullish view: The RSI value is 63.49, in a neutral to strong range, not yet overbought. The MACD remains in positive territory, and the histogram is green, supporting further price increases.
Don't forget, there is a huge potential benefit: Financial giants like Fidelity and Grayscale have already submitted applications for a Solana ETF. Institutional investors always layout in advance and won't wait for clarity before taking action.
4. What to do next?
If you also hold $SOL or plan to buy, here are a few suggestions for you:
When building a position, strictly control the position size to 50%. This way, you can defend and attack. Never operate with a full position, because if the market crashes, a full position will be unable to save itself.
When the cryptocurrency you invest in rises by 2-3 times, you should first sell half to recoup your costs. After that, we can use the remaining profit to maneuver in the market.
Don't be fooled by the numbers in your account; only cash that is turned into funds truly belongs to you. The numbers in the account are just digits. Many people are still asking where this pullback will end, while I have quietly started to increase my position. I know the main players' accumulation is nearing its end, and the rise is just a matter of time.
Opportunities always favor those who are prepared. SOL has currently formed a bullish trend line above $212 and the 100-hour simple moving average. As long as it holds the $210 support, the upward pattern remains intact. If you feel helpless or confused in trading and want to learn more about the cryptocurrency space and get first-hand cutting-edge information, click on my profile and follow me, so you won't get lost in this bull market! #资金涌入推动SOL上涨
