FTX Unlocks 186,000 SOL: Is It a Bull Rally or a False Signal?
FTX is at it again—unlocking a total of 186,000 SOL at once, with a market value exceeding $22 million, causing the market to react instantly: "Is there going to be a crash again?"
But don’t panic just yet; let’s break down the logic behind this move:
01｜Unlocking ≠ Selling, but the market will still be startled
Although unlocking does not equate to immediate selling,
just hearing the keywords FTX and SOL together makes anyone's heart race.
Especially since they still have debts to repay in May; could this be a “preloaded gun”? Worth paying attention to.
02｜Technical Analysis: The 120 Mark is Crucial
Recently, SOL has formed a rising triangle in the short term,
struggling in the 119.5~120.8 range.
A breakout means a surge to 125, or even 135;
a failure could mean a dip back down to 100.
03｜RSI is Overbought, Correction Risk is High
Currently, the RSI remains strong, but the stochastic indicator RSI is already overbought,
—simply put, the price has risen too quickly and may need a break.
However, as long as the main RSI line holds, the upward trend remains under the control of the bulls.
04｜A Bitcoin Safety Net, or a False Prosperity?
Currently, BTC stands strong at $81,000, restoring market confidence.
But don't forget, SOL is one of the leaders in growth, and if the main players cash out, they might “move it first.”
Conclusion: Don’t Just Focus on Unlocking; the Key is “Is There a Crash?”
In the short term, SOL is facing a crucial showdown between bulls and bears:
Break above 120 for strength, targeting 125/135;
break below 117 to be cautious, as correction pressure escalates.
