Early month interest rate cut expectations, now is the best time to enter $SOL
1. Keep an eye on key price levels:
· Resistance level: $147 is a key resistance in the near term. If it can break strongly, the likelihood of confirming an upward trend increases.
· Support level: The area around $127-131 is the primary defense line. If it breaks below, the next important defense line is around $121.
2. Consider building positions in batches: To avoid the risk of making a large purchase at a relatively high point, it is recommended to consider buying in batches.
1. Technical indicators show a rebound signal: The price of SOL has rebounded after a recent decline, rising over 5% in the past 24 hours, trading around $138. A 'bullish divergence' has appeared on the technical chart (the price makes a new low while the RSI does not), suggesting that downward momentum may be weakening.
2. Positive ecosystem development:
· Deflationary expectations: A developer has proposed the SIMD-0411 proposal aimed at accelerating the reduction of SOL's token issuance. If passed, it may provide long-term support for the price due to decreased supply.
· On-chain activity: For example, the x402 protocol processed over 500,000 transactions over the weekend, indicating strong network usage demand.
· Network upgrades: Planned upgrades such as Firedancer aim to enhance network performance and reliability.
3. Continuous inflow of institutional funds: Data shows that the Solana spot ETF in the U.S. has seen a net inflow of approximately $58 million in a single day recently, indicating that institutional investors are still buying.
4. Oversold rebound expectations: Some analysts believe that SOL's RSI was in the oversold region (below 30), indicating a demand for a technical rebound, and have set a short-term target (such as within one month) for a rebound to $175-200.
