Technical analysis hit hard.
Look at this 1-hour candlestick chart, SOL is bungee jumping at $167.7! A meat grinder for bulls and bears on site:
The key resistance level of $171.5 feels like a ceiling pressing down, three attempts to break through have all been smashed back, there are countless sell orders from the market makers.
$167 is the life-and-death line, a +0.16%委比 indicates bulls are holding firm, but if it breaks below $164.9, it will absolutely collapse.
Trading volume suddenly shrinks, a typical calm before the storm, tonight a direction must be chosen!
News front nuclear bomb chain explosions
Trump's tariffs postponed to August 7: This old fox is playing dirty! Delaying by a week is clearly forcing countries to negotiate, risk-averse funds are eyeing cryptocurrencies closely, SOL may become an entry point for hot money!
Non-farm data disappoints: Weak employment data slaps the Federal Reserve in the face, rate hike expectations cool down, if the dollar weakens, SOL will go to the moon!
Tonight at 22:00, double whammy: ISM Manufacturing PMI + Consumer Confidence Index, if the data is below expectations, the market will absolutely explode on the spot — SOL will either soar by 20% or experience a sharp dip!
Mig's tough talk
Right now, SOL is like a dancer on a powder keg! I see a 70% chance of breaking through $171.5:
Trump's tariff delay is like sending an oxygen tank to the crypto space, institutions are looking for an exit, SOL on-chain activities have surged recently.
Technical analysis has converged into an extreme triangle, explosive market conditions love this pattern, remember! Market makers love to hunt shorts.
But if the data is bad and breaks below $164, hurry to stop loss, waterfall could see $155!
The crazier the data, the more lucrative the opportunity — but don't go all in on leverage, staying alive is the key to winning! Follow Mig's homepage