Friends, I am Mig.
The market has reached this point, and just looking at the K-line is no longer enough; you need to sniff out the 'panic aroma' in the market. Let's start with the most explosive news.
News: A 'giant whale' may be sinking; will it drag down SOL?
The listed company Upexi holds 2 million SOL, which is one of the 'SOL treasure trove' giants that we all know. But ironically, its own stock price has fallen from $22 to $1.8, with a market value of just over $100 million, and now it is applying to the SEC for $1 billion in fundraising!
What signal does this send? It may be extremely cash-strapped and even facing operational pressure. If it is forced to sell some SOL in the future to survive, or if the market develops a trust crisis regarding the logic of 'listed companies holding coins' because of this news, it would only worsen the sentiment around SOL.
Mig believes that the news is absolutely bearish in the short term, pouring cold water on an already fragile market. If you are also worried about this 'whale risk,' come to Mig's village tonight, and I will analyze the financial reports and intentions of such companies in detail. Chat Room
Technical aspect: all defenses are being breached one by one.
The current price of SOL is 122.27, exactly at the first line marked as 'target support' on the chart. Above, 125, 128, and 129 are all densely packed resistance levels, like layers of ceiling.
The key indicator is MACD - the yellow and white lines are firmly pressed below the 0 axis, and the volume has shrunk to the extreme. What does this indicate? The downtrend has not reversed; every rebound is extremely weak, and no one dares to buy in large amounts.
The technical summary is just one sentence: bears control the situation, and the only hope is that the position at 122 can form a short-term bottom. But bottoms are ground out, not guessed. For specific market layout, pay attention to Mig, who will provide specific entry points in the village. Chat Room
Mig's personal opinion: I lean towards 'selling at the rebound'; the bottom line thinking is 116. Best case scenario: oscillate around 122 repeatedly, using time to exchange for space, then make a weak rebound to test 125, but 129 is very difficult to reach. Most likely scenario: 122 cannot hold, looking for support at 118, or even testing the 'bottom support' at 116.
My core idea is: if the trend is not right, do not bet on reversals. It is better to wait until it drops thoroughly and panic selling occurs before considering picking up cheap chips.
Advice for retail investors:
For those heavily invested: if the rebound cannot surpass the 124-125 area, it is an opportunity to reduce positions and stop losses. If it breaks below 122 and does not recover within an hour, continue to reduce positions.
For those with light positions waiting: wait for the price to drop to around 116-111 before entering.
For those who want to learn: remember, when the market is poor, it is the time for you to accumulate knowledge.
Market analysis is 'planning,' but the market is 'real combat.' If you always feel one step behind the market, constantly experiencing 'buying leads to falling, selling leads to rising,' then let me tell you, it's not a lack of analysis; it's a lack of a professional guide who can remind you in real-time when 'opportunities arise' and 'run fast!'
Want to know how I, Mig, helped my brothers in the village avoid spikes and set precise ambushes? Follow Mig and join every attack of the Mig villagers! Mig will announce specific entry times and real-time news every day in the village! Chat Room
