SOL key support has been lost, how much space do bears have?
—— The 1-hour chart has sent a clear signal, I choose to follow the trend
Technical evidence is ironclad:
1 The K-line has broken the key chip area of 85.5, EMA7 has crossed below MA30 forming a death cross, the moving average system shows a bearish divergence
2 The Bollinger Bands are widening, the price is running along the lower track, MACD green bars are expanding again, bearish momentum has not weakened
3 Trading volume has increased during the decline, and decreased during rebounds, a typical weak structure
On-chain data synchronously warns:
In the last 24 hours, whale addresses transferred 120,000 SOL (approximately 10 million USD) to exchanges
The perpetual contract funding rate has turned negative, market sentiment has shifted to pessimistic but not extreme
News catalysts:
Bitcoin ETFs have seen net outflows for three consecutive days, and risk aversion sentiment is spreading in the market
Abnormal fluctuations in Solana ecosystem gas fees have raised concerns about network congestion
My operational plan:
Short lightly near the current price of 84.9, add positions when rebounding to 86.2 (Bollinger middle track)
Strict stop loss at 88.1 (previous high + transaction fee buffer)
First target at 82.3 (previous low platform), second target at 79.8 (weekly EMA60)
Key reminder:
Tomorrow, the US CPI data will be released. If inflation exceeds expectations, it may accelerate the decline. It is recommended to adopt a gradual profit-taking strategy. Currently, do not blindly catch the bottom; the tail-end market is more fishy and less meaty!
(Comment area welcomes rational discussion, those who share their trading experiences will be prioritized in responses)
Follow Rao Ge’s Crypto Diary to learn more first-hand information and accurate points in the crypto circle, becoming your navigation in the crypto space; learning is your greatest wealth! #Meta收购Moltbook #比特币重新站上7万美元大关 $SOL
—— The 1-hour chart has sent a clear signal, I choose to follow the trend
Technical evidence is ironclad:
1 The K-line has broken the key chip area of 85.5, EMA7 has crossed below MA30 forming a death cross, the moving average system shows a bearish divergence
2 The Bollinger Bands are widening, the price is running along the lower track, MACD green bars are expanding again, bearish momentum has not weakened
3 Trading volume has increased during the decline, and decreased during rebounds, a typical weak structure
On-chain data synchronously warns:
In the last 24 hours, whale addresses transferred 120,000 SOL (approximately 10 million USD) to exchanges
The perpetual contract funding rate has turned negative, market sentiment has shifted to pessimistic but not extreme
News catalysts:
Bitcoin ETFs have seen net outflows for three consecutive days, and risk aversion sentiment is spreading in the market
Abnormal fluctuations in Solana ecosystem gas fees have raised concerns about network congestion
My operational plan:
Short lightly near the current price of 84.9, add positions when rebounding to 86.2 (Bollinger middle track)
Strict stop loss at 88.1 (previous high + transaction fee buffer)
First target at 82.3 (previous low platform), second target at 79.8 (weekly EMA60)
Key reminder:
Tomorrow, the US CPI data will be released. If inflation exceeds expectations, it may accelerate the decline. It is recommended to adopt a gradual profit-taking strategy. Currently, do not blindly catch the bottom; the tail-end market is more fishy and less meaty!
(Comment area welcomes rational discussion, those who share their trading experiences will be prioritized in responses)
Follow Rao Ge’s Crypto Diary to learn more first-hand information and accurate points in the crypto circle, becoming your navigation in the crypto space; learning is your greatest wealth! #Meta收购Moltbook #比特币重新站上7万美元大关 $SOL