Recently, the ETF for SOL has been incredibly popular, hasn't it? There was a net inflow of $10.99 million yesterday, and the historical total has exceeded $726 million!

But when you open the candlestick chart, not only has the price of the cryptocurrency not soared, but it has instead been plummeting. Don't you feel like the market is playing tricks on you? Don't worry, today I will take you to strip down SOL's underpants and see what tricks it is really playing!

News: ETF fundraising ≠ cryptocurrency price soaring

Yesterday, the net inflow into the US Solana spot ETF was $10.99 million, and the two major institutions Bitwise and Fidelity are still continuously increasing their positions. Logically, this is a huge positive, but instead, the price has been falling continuously. Why? Because the term 'traditional capital market' has already exposed Solana's ambitions - it wants to enter the mainstream financial system, but this path takes time, and in the short term, it is actually 'good news being exhausted is bad news.' The founder Toly even joked about 'cooking,' implying that the project is still 'cooking' and hasn't served up the dish yet!

The news is positive, but the price cannot rise; it's really a torment for SOL. If you don't know how to enter the market, you can follow Tianji, who will teach you in the village how to still profit during a downturn!

Technical aspect: the 1-hour chart is filled with selling pressure.

From the 1-hour chart, SOL is currently in a clear downtrend channel. Each major drop is accompanied by massive trading volume, followed by a period of low volume consolidation, a typical 'drop—pause—drop' pattern. The price is currently struggling around 122, with heavy resistance above: rebound resistance at 130, a key level at 125, and support below first looking at 120. If it breaks down, it could likely head straight for 100.

The indicators are also bleak: MACD has a death cross below the zero line, and although RSI hasn't reached the oversold area, the rebound strength is very weak. The Bollinger Bands are opening downwards, with the middle band at 124.5 becoming strong resistance. Overall, the bears completely control the situation, and the bulls don't even have a decent counterattack.

Trading idea: for those holding positions, continue to hold shorts; if long positions are trapped, consider exiting around 125 on a rebound. Aggressive players can enter shorts directly now, while conservative ones should wait for a rebound to near key levels to enter, with stop-loss placed above 127. If you don't know how to time your entries, you can follow Tianji, who will provide real-time analysis in the village and offer the best current entry points!!

Personal opinion: primarily bearish; breaking 120 would be hell mode.

My judgment is simple: the trend does not change, continue to be bearish. The inflow of ETF funds is just a long-term story, while in the short term, the price is dominated by emotions and technicals. Currently, market confidence is insufficient, and the massive selling pressure has not been digested; any rebound is an opportunity to escape. If 120 cannot hold, the next target is 100. Don't be fooled by news; the market is always right—down is down, don't go against the trend.

The market changes rapidly; want exclusive trading strategies? Hurry up and follow Tianji, I will share more valuable insights in the village, helping everyone avoid pitfalls and make money! Don't forget, the crypto world has great risks, so it’s important to follow the right people!
#美国非农数据超预期 $SOL