One day in the crypto world is like a year in the real world! Today's drop in SOL is likely to scare a bunch of newcomers. But friends, don't panic—there are often golden opportunities hidden in risks. I'm Fuqi, a veteran crypto blogger with years of experience. Today, I'll talk plainly about the current situation of SOL and teach you how to achieve stable victories.
First Image (Upexi Quarterly Performance Report):
This is a positive news item. Upexi, a Nasdaq-listed company based on Solana, has reported record quarterly performance, with digital asset revenue exceeding $6 million and staking income reaching $6.1 million, marking a 183% year-on-year increase in gross profit. The company has also completed financing, with total holdings exceeding 2.1 million SOL. This news should theoretically be good for the price of SOL as it indicates real demand growth in the Solana ecosystem and increased institutional participation.
Second chart (SOL one-hour candlestick chart):
The current market is in a downward trend, with prices around $155.04 USDT, close to the key support level of $155.04 USDT. There are target support levels of $150.61 USDT and bottom support levels of $145.61 USDT below. Technical indicators show:
MACD yellow and white lines are moving downwards, with an increase in red bars, indicating strong bearish momentum and significant downward pressure in the short term.
RSI Indicator: From the context, during a market decline, RSI should lean towards the oversold region (usually below 30), suggesting a potential approach to a short-term bottom, but confirmation is needed to see if the decline stops.
Volume Zone: Volume is shrinking, the number of red bars is increasing, indicating that selling is dominant but the trading volume is shrinking, which may reflect a strong market wait-and-see sentiment, and the downward momentum may weaken.
Fuqi's personal opinion:
As a financial veteran, I believe that this decline in SOL is not the end of the world, but rather an opportunity for 'washing'. On the news front, Upexi's performance has surpassed expectations, indicating that the Solana ecosystem really has prospects. But why is the price still falling? Simply put, 'good news leads to bad news'—whales have positioned themselves in advance, and as soon as the news is released, they dump to profit, playing psychological games with us retail investors! Looking at past cases, after the good news for Dogecoin was announced last year, it also fell before rising, history always repeats itself.
Analyze past market trends:
SOL has pulled back from the $200 high point at the end of October and is now stuck at the key level of $155. From a technical perspective, the MACD has a death cross, and red bars are increasing, clearly indicating strong bearishness; RSI is nearing the oversold zone, suggesting selling pressure is close to its end. Volume is shrinking, like a fight losing strength, and a shift in trend may occur shortly. In the past week, whales have made large transfers; some are running away while others are catching on. This decline is meant to wash out the weak hands.
Future trends and what players should do:
In the short term, SOL may test the $150 support; if it breaks, be careful of dropping to $145. However, the news is solidly positive, Upexi's staking yield and institutional financing, in the long run, is a powder keg—once market sentiment warms up, SOL could rebound violently. What should players do?
Short-term traders: Don't get itchy fingers to catch the bottom, wait for RSI to turn or a strong bullish candle before making a move.
Long-term investors: accumulate in batches below $150, set a stop loss at $140, and bet on a rebound.
Remember, trading cryptocurrencies is not gambling; it requires a plan like going into battle—small losses, big gains is the way to go.
In fact, there is a hidden signal behind SOL, whales are quietly taking action... Want to know if it will rise or fall next week? Follow Fuqi, I will exclusively share the 'Whale Accumulation Indicator' next time, letting you position yourself ahead of the explosive market!
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