【To be honest, SOL's current price action is making me a bit restless】
The market has been overall lukewarm these past few days, and SOL hasn't really surged.
The current price is hovering around 126.15, as if waiting for some signal. The RSI has dropped to 40.5, which isn't low or high, indicating a somewhat neutral to weak sentiment. When it previously surged, I thought it could maintain an upward rhythm, but now it looks more like a pullback and consolidation, with strength weaker than expected.
Honestly, I'm a bit unsure right now. One possibility is that after this consolidation, it could attempt another high, given that the trend hasn't completely broken and the volume hasn't fully dissipated. If market sentiment warms up, SOL still has a chance to move a bit. Especially if there are on-chain data or ecosystem news to support it, we might see a sudden bullish candle breaking the deadlock. In this case, the 126 level might really hold as a short-term support area.
But we can't ignore another possibility—if the overall market continues to consolidate and funds keep shrinking, SOL will likely need to test lower levels. The 40.5 RSI looks unremarkable, but if the bears take over, it could potentially drop to 30. At that point, don’t even mention a rebound; it might again drift back down to the lower edge of the trading range for some time. Last round, I was stuck in a similar position without adjusting my strategy in time, and ended up being trapped for almost a month. I really don't want to repeat that this time.
So my current operation is to neither increase my position nor clear it; I'm just holding my base position and observing. I don’t want to miss out on potential recovery, nor do I want to stubbornly hold through a pullback when the situation is unclear. After all, SOL's fundamentals are still intact, and there are continuous ecosystem movements. I’m not worried about the long term, but I really need to be cautious about the short-term rhythm.
In summary, just because the price hasn't moved much doesn't mean a change isn't coming. I suggest everyone not to rush to conclusions but to observe trading volume and the overall market atmosphere, especially whether there are any significant anomalies in the past few days. If SOL can stabilize around 126 for two days, the bullish logic can still hold; if it breaks down directly without a rebound, then reevaluation is necessary.
Veteran experience: The quieter it gets, the more you need to keep your eyes wide open.
