SOL Midday Market Analysis: Uncle Feng Cautiously Bearish, Prepare for Risk Management

Dear investors, good afternoon! SOL has been fluctuating recently, and in conjunction with market conditions and technical analysis, I am cautiously bearish during this midday session. Below is a concise analysis and operational suggestions for your reference.

1. Core Market Signals

SOL's recent performance has been weak, with a sustained decline following an earlier rebound, and multiple attempts to break resistance have failed. The MACD has shown a death cross, and the green bars are expanding, indicating an increase in bearish momentum; the KDJ has fallen from the overbought zone into a bearish range, reducing bullish confidence. Additionally, there has been a noticeable increase in trading volume during declines, with clear signs of capital outflow, further supporting the bearish judgment.

2. Support for Bearish Logic

1. The overall cryptocurrency market is experiencing fluctuations, with the activity in SOL-related sectors such as DeFi and NFT declining, putting pressure on demand. Meanwhile, some funds are shifting from highly volatile assets to more stable ones, creating outflow pressure for SOL.

2. SOL's current price is below the previous consolidation platform, and if it fails to hold key support, it is likely to further decline; additionally, investors are becoming more cautious towards highly volatile assets, cooling off optimistic expectations for SOL.

Uncle Feng looks to short near 210, with a target around 195 near #SOL