SOL at this moment is like a sprinter in cleats, sprinting wildly under the boost of Red Bull!
But the horizontal bar at the end of the track is visibly trembling—this wave of market seems vigorous, yet it hides mysteries.
1. Bollinger Band extreme pressure: The current price is closely touching the upper band at 156.8, with four consecutive K-lines performing a 'face dance'. The Bollinger Band mouth has narrowed from a distance of 18 dollars yesterday to 15.6 dollars, this narrowing shape is like a compressed spring, ready to trigger a reversal at any moment. If it cannot break through with volume, it is highly likely to retrace to the middle band at 148.98 to catch its breath.
2. MACD's deathly entanglement: The distance between DIF and DEA is only 0.11, and the red bars have shrunk from a peak of 0.89 to 0.21, indicating a clear exhaustion of bullish momentum. The two lines are 'walking on a tightrope' just above the zero axis, and any slight negative news could lead to a death cross and a plunge.
3. The truth behind the early morning assault of the bullish candle: The large bullish candle at 3 AM showing a 6.3% increase, accompanied by on-chain NFT trading volume soaring to 21 million dollars, with transaction volume surging by 180%, the big players are using this momentum to test the upper resistance.
News
① Rumors of Visa testing stablecoin settlements on Solana, boosting ecosystem enthusiasm;
② Bitcoin is hovering at 65,500, but the open interest has suddenly dropped by 15%, major funds are in a wait-and-see mood. Two forces are pulling on the SOL market.
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