SOL is currently like a 'spring', compressing back and forth between $220 and $226. It struggles to push up, but has significant support when dropping

Latest price: $223.89

Key position:

Breakthrough level: $226

Defensive level: $220

Strong support: $200

News: Institutions are hoarding like crazy!

Galaxy Digital just withdrew $40 million in SOL from the exchange, clearly hoarding for a price increase

Four new wallets snatched 100,000 SOL from Binance within 5 hours, suspected institutional arrangement

SOL Strategies listed on Nasdaq, holding 430,000 SOL, boosting market confidence

Bitwise Chief Investment Officer calls out: "SOL may experience epic growth by the end of the year!"

Interpretation: Institutions are secretly accumulating, indicating they are optimistic about the market outlook, but short-term prices may be controlled by large players, making it easy for retail investors to chase highs and get killed on dips.

Technical analysis: Longs and shorts are battling, waiting for direction!

MACD indicator: Red bars are shortening, indicating that short-selling strength is weakening, but a strong upward trend has not yet formed.

KDJ indicator: Value 76, no golden cross or death cross, meaning it is not suitable to chase up now, better to wait for a pullback.

Volume issue: Prices are rising but volume is shrinking, this is a hidden danger - fewer people are buying, the rise may be a false breakout.

Today's operational strategy

If it breaks through $226: it must have increased volume to really surge up, target looking at $230-240

If it falls below $220: it may retest $218-215, if it can't hold, short-term adjustments will begin, but there is strong support around $200

Sideways fluctuations: just lingering between $220-226, if there are no news stimuli, it may continue to sway today.

Sister Feng reminds:

Institutional hoarding is a long-term benefit, but short-term prices may be manipulated by leveraged funds.

Keep a close eye on the Bitcoin market: If BTC stabilizes at $112,000, SOL will find it easier to rise; if BTC falls, SOL is likely to follow.