$SOL can be shorted now, with the overall bearish scenario for Ethereum, this one is not missing. Here it opens at 50, shorting at 205 with protection at 208, looking down to 195-190.
Solana (SOL) has shown strong market performance recently. From the perspectives of technical analysis, capital flow, and fundamentals, there is a certain upward momentum, but some uncertainties also exist. The following is a specific analysis:
- Technical Analysis: From the 1-hour candlestick chart, SOL formed a 'W' bottom reversal pattern around $155 after experiencing a pullback in late July. This signals the end of the downtrend and the potential start of a new upward trend. Currently, the price has broken through and is above all short-term moving averages, and the moving average golden cross pattern confirms the trend change. However, the MACD indicator's fast line DIF is slightly below the slow line DEA, and the MACD histogram is negative, indicating that after a rapid rise, the upward momentum needs further consolidation and may enter a brief period of sideways movement or slight pullback. - Capital Flow: On-chain funding data shows that although the overall Solana market experienced a net outflow of -5.5582 million SOL in the past day, large whales are in a state of significant net inflow, with inflows of 53.4749 million vs. outflows of 47.5831 million. The main reason for the overall net outflow is the selling by the 'mid-sized whale' group. This divergence phenomenon of 'retail/mid-sized investors selling, whales buying' is often seen as a reliable leading indicator that the market is about to welcome a trend-driven rise. Moreover, from a longer time dimension, SOL has shown a net inflow trend over the past day, week, and month, indicating that bullish forces in the market are gradually accumulating. - Fundamentals: OSL HK received approval from the Securities and Futures Commission and opened trading services for Solana (SOL) to retail investors at 23:00 (UTC+8) on August 11, becoming the first exchange in Hong Kong to support SOL retail trading, which may increase SOL's market liquidity and investor attention, providing a certain push for the price. - Market Sentiment: The latest 'Fear and Greed Index' shows that current market sentiment has reached 74, entering the 'Greed' range, indicating that investor confidence has significantly recovered, and the market generally holds a positive outlook for the future. This optimistic sentiment will provide a favorable social consensus foundation for the continued rise in price, but caution is needed regarding the risk of a short-term pullback due to an excessively high greed index.
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Temporarily trapped, the pullback is an opportunity to add positions. Wait to add positions, don't panic, stay calm, trust Guage to achieve immortality.
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