SOL bull and bear battle is intense! Whales are buying madly vs FTX dumping, should retail investors stay flat or buy the dip?
SOL's market has completely entered the 'celestial battle' mode!
On one side, the keen-eyed whales boldly enter the market, throwing out 110 million U to massively increase long positions in BTC and SOL, directly showing a bullish stance with 5x BTC and 20x SOL positions - it's worth noting that this big player previously made tens of millions in profit, and this move is bound to stir the market.
But the reversal came unexpectedly, as FTX suddenly unlocked nearly 200,000 SOL, worth over 20 million dollars, which is about to be dumped on Binance.
This is not the first operation; over the past year, FTX has sold nearly 1 billion dollars' worth of SOL, with an average price just around 135 dollars, and the selling pressure above is clearly displayed.
Looking at the current market, SOL is fluctuating around 136 dollars, facing strong resistance at 145 dollars above and support in the 128-120 dollar range below.
The technicals are even less optimistic, as the RSI indicator has already broken through the critical 70 level, with glaring overbought signals; although the MACD maintains a golden cross, its position is too high, with severely insufficient short-term upward momentum, and the trading volume has yet to expand, clearly leaving follow-up funds hesitant.
In short, this is a typical scene of a bull-bear contest: whales are bullish, lifting the cart, while FTX is sneaking out.
Now chasing highs is no different from gambling, betting on whether the whales' financial strength can withstand the selling pressure, but retail investors must not get carried away - FTX still has over 4 million SOL in staking status, which could be dumped at any time.
The operation advice is very clear: don't rush to go all in, patiently wait for a more secure opportunity.
If SOL can stabilize above 140 dollars and accompanied by increased volume, a small position can be followed; if it pulls back to the 128-120 dollar support range, then buy in batches.
When news is flying, price action is the most reliable signal; don't trust the hype of 'immediate surge' if it hasn't broken the previous high.
Follow me, keep a close eye on SOL's changing trends in the next few days, and immediately sync up once key signals appear!
Will the whales hard-pull the situation, or will FTX break through the support? Let's witness together, avoiding getting lost in topping and bottoming～
For those who want to keep up with the thoughts, gather in the chat room!
