Two weeks ago, the cryptocurrency market was affected by the rising expectations of interest rate hikes by the Federal Reserve and some institutions adjusting their positions, resulting in a momentarily low sentiment. At that time, many voices believed that SOL would drop below the $100 mark, and even revisit the previous range of $80-90. But the fact is, SOL not only withstood the selling pressure but also steadily rebounded after forming strong support around $110: the short-term target of $130-140 we mentioned earlier has been successfully achieved, and as of now, the price is firmly above $145, with a daily level of three consecutive days of gains, and trading volume nearly increased by 30% compared to last week, indicating a noticeable buying support.
This rebound is not accidental. From a fundamental perspective, the SOL ecosystem has been very active recently: the total value locked (TVL) in the DeFi sector has surpassed 4.5 billion USD, an increase of 18% compared to last month; the daily trading volume in the NFT market has exceeded 20 million USD again, with several leading projects completing upgrades; more importantly, after its latest network upgrade, the transaction confirmation speed has improved to 0.8 seconds, and the throughput has increased by 25% compared to before. These tangible advancements provide support for the price.
Regarding whether it's appropriate to enter the spot market, my view is: the current market is still in a stage of oscillation and repair, blindly chasing highs is not advisable, but the logic of positioning on dips still holds. If the subsequent pullback reaches the 135-140 USD range (this range is both a previous breakout point and a densely traded area in the past 20 days), it can be seen as a relatively safe accumulation window; if it directly breaks through the 150 USD resistance level, we need to observe whether the volume continues to expand (at least maintain the current increment above 30%), and then decide whether to follow up, to avoid being trapped due to short-term emotional spikes.
As for the selection of quality altcoins going forward, I will focus on three dimensions: first, the ecological synergy with mainstream public chains (for example, whether it connects to cross-chain protocols of SOL and ETH, and whether it can accommodate the user demand spilled over from the main network); second, team execution ability (the frequency of code submissions in the past 3 months, and the progress of partnerships, to avoid 'pie-in-the-sky' projects); third, valuation rationality (the matching degree between market value and actual locked amount, user activity, prioritizing 'value lowlands' over 'bubble targets').
Lastly, I must remind you: the essence of volatility in the crypto market has not changed, and any strategy must take into account one's own risk tolerance, rational decision-making is always the top priority.
If you are still confused in the crypto circle, lacking firsthand information and professional guidance, you might consider following Ming Ge. Ming Ge has been deeply involved in the crypto circle for many years and shares rich experiences and real operational insights every day!#sol
