$SOL Don't rush to bottom fish! The main force is playing new tricks again!
I just saw a heavy news, Binance is going to launch a new SOL trading pair tomorrow night. What does this mean? Simply put, it means that a new 'pool' has been opened for SOL. This action itself increases liquidity, but combined with the current state of SOL, it feels a bit complicated.
Look at the current market, the pressure is immense, the key level is 136, with support below at 128 and 120.
More critically, on-chain data shows: the number of people selling at a loss in the SOL market far exceeds those selling at a profit, liquidity is quickly drying up to bear market levels. Analysts from Altoon Vector put it more bluntly: SOL is undergoing a 'full liquidity reset', simply put, it's a painful process of clearing out the previous bubbles and leverage.
My personal view is: don’t take Binance launching new pairs as a simple good thing. It’s more like giving a patient who just came out of the ICU a new ward, but the illness is not cured yet! Currently, this 'reset' phase aims to wash out the shaky chips and high leverage in preparation for the next wave of market action. This round is caused by a combination of 'loss selling + contract liquidation + market maker retreat'. So, don’t expect an immediate V-shaped reversal in the short term; bottoming out takes time.
A sincere word to SOL players:
Don’t rush in just because of the news: a new trading pair is launching tomorrow, don’t get all heated and chase after it. The current environment is a 'liquidity reset', not a 'liquidity explosion'.
Be patient for stabilization signals: Keep an eye on key support levels, especially the 'bottom support' at 120. Only when prices stabilize, trading volume drastically shrinks, and panic selling is thoroughly washed out, is it time to consider.
Pay attention to the big rhythm: Don’t forget there’s a Federal Reserve interest rate decision in the early hours, this macro backdrop will affect all assets.
In short, SOL is currently in a 'detox' phase; the process is uncomfortable, but beneficial for long-term health. If you want the market to reignite, it may still need some time, possibly until early January.
Want to know when this 'liquidity reset' of SOL will really end? Which signal will indicate a truly safe bottom fishing opportunity? Follow me, and tomorrow, combining market conditions and data after the new trading pair goes live, I will outline the key defensive areas and critical action signals for you. If you want to avoid the fish heads and tails, and only eat the most succulent parts, you need to wait for my reminder!
Interest rate cut night, are you ready? The chat room has a spot for you 24/7!
