Coin friends, I am Zhao Gongming! The Federal Reserve's interest rate cut not only failed to support the market but instead became a perfect trap for the main force to harvest longs. After SOL spiked to 142 in the early morning, it plummeted straight down to 131. What happened behind this? Follow Zhao Gongming for the brutal truth reveal.
News: Interest rate cut implemented, expectations exhausted, market turns to short selling
The Federal Reserve cut interest rates as expected, but the dot plot shows only one rate cut next year, interpreted by the market as "easing less than expected." After Powell's speech, Bitcoin surged and then retreated, clearly signaling that short-term macro benefits have been fully realized. For high Beta assets like SOL, when the biggest catalyst proves to be insufficient, profit-taking and disappointment selling pressure will be concentrated and released.
Technical analysis: A textbook-style bait for bulls, the bullish defense line has completely collapsed.
Today's market is a classic 'news-driven bait for bulls'. The hourly candlestick chart clearly shows that the price spiked to 142 on the interest rate cut news, precisely testing the strong resistance area at 140 before being rapidly pushed back down by large sell orders. This long upper shadow not only signifies 'selling the news', but more crucially, the price subsequently broke below the key support at 132 and closed below 131, indicating that bears have completely taken control of the situation. The MACD death cross is confirmed, with the white line below the zero axis, and the green bars turning into red while gaining strength, which is a clear signal of accelerating downward momentum.
If Zhao Gongming has warned in advance about the risk of 'selling on good news', please make sure to follow Zhao Gongming to get first-hand information and entry points in the chat room!
Zhao Gongming's views and strategies: The trend has turned bearish, and the rebound is an opportunity to escape.
I am firmly bearish on SOL's future. That spike is the last 'glimmer of hope' for the bulls.
For those holding positions: Any rebound to the 132-134 area should be used to decisively reduce positions and exit.
Empty positions: Avoid blindly bottom-fishing; patiently wait for the price to further test the strong support area at 126 or even 123.
Zhao Gongming announces three waves of strategies daily in the chat room. If your position is not 5 million, please follow Zhao Gongming's real-time advice to avoid liquidation risks. The current market is unpredictable, and each fan's position is different, follow Zhao Gongming for real-time updates on the entry points announced by Zhao Gongming in the chat room!#solana
