$SOL SOL is it a rebound or a trend reversal
From a broad perspective:
In the last couple of days, SOL has indeed experienced a mild rebound as the market has stabilized. However, the issue is quite evident—every time it attempts to rebound hitting MA30 or the middle Bollinger Band, it gets pushed back down, indicating that the bearish selling pressure in this area has not eased at all.
A few key points:
The previous high of 144.78 has not seen a decent push since it was brought down; there hasn’t even been an attempt to test it, indicating that the bulls lack confidence.
The low point of 121.02 has rebounded, but the strength is weak, and the overall pattern still reflects a standard "weak rebound in a downtrend."
Although MACD has a golden cross, the bars are diminishing quickly, which indicates:
The bulls have not entered, and there is no sustained momentum for capital to push it up.
In summary:
This is a dead cat bounce, not a reversal for takeoff.
My viewpoint
What does SOL's current structure resemble?
It looks like a ball rolling down a slope; when you see it bounce, that is merely a technical rebound caused by hitting a minor terrain bump—not a trend reversal.
This kind of movement is most likely to tempt retail investors:
"A reversal is coming! Is it about to take off?"
But the reality is often:
The rebound lasts 2-4 hours → A big bearish candle swallows it whole.
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Stay calm, everyone will publicly reveal their strategies in advance at the plaza! Just wait quietly!
Regarding future market trends, K's perspective is quite simple:
Wait for the correction to finish, then continue with a bearish outlook. Yesterday, shorting at the four-hour resistance level was quite satisfying.
