#加密ETF申请热潮涌现

12.28 Weekend Evening Market Overview:

$SOL has been pulling back since hitting a new high of 264 on 11.22, while various sectors of public chain tokens have been continuously reaching new highs. In contrast, SOL has been declining daily, which is a bit perplexing.

From the DEX data, SOL has ranked ahead of ETH and BSC for two consecutive months, with the first DEX trading volume never shaken; moreover, the MEME wealth effect on the SOL chain is the largest. Since the bull market began on November 4, it was SOL chain's PNUT and ACT that played a leading role in creating wealth, attracting old retail investors back to the crypto space and bringing in fresh capital.

However, currently, SOL is the weakest public chain token. The rising star SUI has been steadily advancing, while the established competitor XRP has also returned to the top 3 in market capitalization. The collapsed and reorganized FTT has also been reaching new highs and progressing steadily. Is it possible that the big players and Wall Street capital are planning for next year's ETT application approval while accumulating positions through long-term oscillation? I believe this is the reason; otherwise, there’s no explanation for this situation.

Currently, SOL is forming a flag pattern within a descending wedge channel, oscillating narrowly; the highs are getting lower, and the lows are getting lower. The daily line needs to stabilize at 202 for SOL to truly embark on a market trend of its own; resistance is at 209 and 230, while support is at 178.5 and 167.57