Last night's cryptocurrency market was a disaster scene, with the Nasdaq index plunging first, dragging SOL into a whirlpool of plummeting prices! To make matters worse, Trump suddenly released harsh words about significantly increasing tariffs on China. Once this bomb was dropped, the price of SOL instantly plummeted from $184 directly to $168. Retail investors in front of the screen were immediately panicked; some were frantically selling at a loss, while others stared at the loss numbers, wanting to cry but having no tears.
But no one expected that this morning the market staged a reversal, and SOL actually rebounded all the way from $168, hardily rising back to $184!
Is this wave of first falling and then rising a move by the main force to wash out indecisive retail investors before pushing up? Or is it a bait to lure retail investors into buying high, only to crash later? The answer lies in the details, let’s uncover it step by step!
Plain-speak from a technical perspective: every signal is a warning light.
If you've seen SOL's price chart, you must have noticed that downward sloping line; this is not an ordinary line, it’s like SOL's death noose! In the past, every time the price touched the $184-$188 range, it was like touching high voltage electricity, immediately turning down with no chance to resist. Now the price has returned to $184, exactly stuck at this noose's resistance level—want to break through? It's as hard as climbing to the sky!
Looking at the support level, $168 seems to be the psychological defense line for retail investors; everyone thinks it should stabilize at this point, but in reality, this could very well be a disguised safety zone.
The main force might intentionally smash the price down to $168, making retail investors think they are bottom-fishing and rushing in to take over. As a result, after retail investors get on board, the price is smashed through $168, heading straight to $150, and those who tried to catch the bottom will only find themselves trapped even more!
There is also the MACD indicator, which is now completely flat, with both the DIF and DEA lines lying motionless in the negative zone, just like a patient's ECG that has almost no fluctuations.
What's even more eye-catching is the MACD bars, which are as red as blood. This is not a good signal; rather, it is a reminder: this wave of decline is not over yet, and there may be even sharper declines ahead!
A sincere word to retail investors: don’t be a bag holder!
From a technical perspective, the current $184 is the crossroads of life and death for SOL: if it goes down, $168 is the life-saving line. Once the price breaks below this level with strong volume, don't hesitate, get out quickly—waiting too long may lead to a deeper trap.
If it goes up, only when the price steadily breaks through $190 and is supported by trading volume can it be considered a real bullish signal; only then is it reliable to enter the market.
Many retail investors always think about bottom-fishing for quick money, but don't forget, the market never shows sympathy for gamblers. What should be done now is not to rush into the market, but to hold back, wait for signals—when the MACD bars turn from red to green, and when the price shows a clear trend, then it’s not too late to act.
Remember one thing: do not gamble on short-term rebounds, only grasp confirmed trends. Living longer in the market allows you to wait for real opportunities to make money!
The current $184, to put it bluntly, is the entrance to a meat grinder: trying to surge upward faces strong resistance at $184-$188.
Trying to crash down, the support level at $168 could collapse at any time. Instead of gambling on luck at this moment, it’s better to patiently wait for two signals: either the price breaks down below $168 with strong volume, indicating a clear downtrend.
Or it breaks through $190 with strong volume, confirming an uptrend. Waiting for the trend to become clear before taking action is much better than blindly entering the market as a bag holder!
Market news changes faster than flipping a book; ordinary people find it hard to keep up with the rhythm. In the future, when to buy or sell SOL, and when to escape the top, I will remind you at the first moment. Following the pace of professionals can help you avoid pitfalls and reduce risks!
