News: Panic sentiment spreads
Whale activity warning: On June 5, a mysterious whale transferred 2.8 million SOL (about 441 million USD) to a Binance cold wallet. Although there was no immediate sell-off, market panic has already brewed, with retail investors worried about intensified selling pressure, leading to a daily drop of over 18% for SOL.
Capital outflow signal: On-chain data shows that exchanges have seen a net outflow of SOL for three consecutive weeks, but contract funds have withdrawn significantly (14-day net outflow -5.23M), smart money's early exit indicates insufficient confidence.
Ecological benefits difficult to save the market: Although Solana's ecosystem is expanding (such as DePIN, AI hardware layout), regulatory uncertainties and the risk of Bitcoin volatility make it difficult for short-term benefits to counteract selling pressure.
Technical aspect: Breaking risk soars
K-line pattern deteriorating: The 4-hour chart shows a large bearish candle penetrating the previous low, with the closing price below the opening price, forming a 'rounded top + double top' structure; the support level at 156 dollars has been broken, and if 152 is lost, a rapid decline towards the 141-130 range is feared.
All indicators are bearish:
MACD: Histogram remains negative and elongated (DIF1.65/DEA1.38, MACD-0.52), strengthening bearish momentum;
Volume divergence: Price decline accompanied by reduced volume, the market is quiet and lacks support.
Key reversal level: The high point of 187.71 forms strong resistance, around 152 becomes the life-and-death line for bulls and bears; if the rebound cannot stabilize above 156, it confirms a downward trend.
Operation summary: Risk aversion is paramount, waiting for the storm
Position holders: Gradually reduce positions above 152, with a stop-loss set at 149.5 (to prevent spikes), decisively exit when rebounding to the 156-160 area.
Observers: Do not blindly bottom-fish! If it falls below 150, short it (target 141), or wait for a volume breakout above 156 to cautiously try going long.
Core logic: Panic from news + technical breakdown, bears dominate the short-term pattern, the bottom-fishing opportunity has not yet arrived!
The whale's cold wallet is not a safe deposit box; is the 152-dollar $SOL a rebound trap before the abyss or a golden pit? Follow me for detailed entry and exit points.
