$SOL Survival in the Cracks: The Tug-of-War Behind the 140-160 Range and the Future Code
The chart shows a narrow fluctuation trend, with the price oscillating around 148.75. The MA7 moving average is temporarily flat, while the MA30 moving average is slightly pressing down. The trading volume has significantly decreased compared to the previous days.
It feels like both bulls and bears are temporarily exhausting themselves at this price level, with neither side willing to exert force easily. The overall cryptocurrency market is following the rhythm of Bitcoin's rise and fall, and the speed of sector rotation is increasing. As one of the top ten cryptocurrencies by market capitalization, SOL naturally sways along with the overall market.
However, there has been a sudden increase in discussions within the community about new applications soon to be launched in the Solana ecosystem, and some investors believe this could be a catalyst for the next wave of increases.
In the short term, SOL is indeed dragging down the market's rhythm. If the trading volume cannot be released, it is highly likely that it will remain in this range for some time.
In the long term, the Solana development team has been quite active recently. The newly launched expansion plan is said to further enhance transaction speed, and more and more DeFi projects are migrating to the Solana ecosystem, so there is fundamental support.
Now it depends on when the market can recover from the interference of macro news. Once the overall market stabilizes, SOL is likely to rebound first due to its ecological advantages. The pressure level will first look at the MA120 moving average near 155. If the support at 145 cannot hold, it may need to pull back to 135 for support.
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