The performance of SOL last night was quite eye-catching, rising from around 130 to 140, and now hovering around 138. Will it continue to rise tonight or drop sharply?
News: The giant whale is moving, is the wind changing?
A giant whale bought 250,000 SOL at around $137.53 with full leverage, worth $34.44 million! It's important to know that large investors of this level usually don't act casually; when they do, it often means: either they have sensed good news, or they believe this is the bottom! Once the news broke, the market went into a frenzy; some shouted 'Follow the whale for soup', while others suspected it was a 'fishing order'. But in any case, real money has gone in, and market sentiment was instantly ignited!
Technical aspect: Key level game, is a triangular breakout imminent?
From the 1-hour chart, SOL is currently fluctuating between the key level of 136 and the resistance level of 145. The middle band of the Bollinger Bands is at 140.97, the lower band is at 130.54, and the price is currently lingering below the middle band, but has not broken the lower band. More importantly:
Support: 136 (key level), 128 (strong support), 120 (bottom defense line)
Resistance: 145 (recent resistance), 150 (psychological level)
Trading volume: Although the price hasn't moved much, the trading volume is higher than the average, indicating that funds are quietly entering the market.
If the 1-hour candlestick can stabilize above 140, it is very likely to quickly test 143 or even 145!
Personal opinion: Follow the whales, but don't get too carried away.
This wave of big whales entering the market is definitely not a coincidence! Technically, SOL has already stabilized at the key level of 136, the 1-hour candlestick has formed a 'bullish window' pattern, along with a significant volume breakout, clearly indicating that the main funds are positioning!
I am optimistic about SOL's short-term surge to the 145-150 range. If it stabilizes above 145, the next target directly looks at 160+!
Thoughts: Aggressive traders can try a small long position at the current price; conservative traders should wait for a breakout above 140 before chasing. Remember, the big whales eat the meat while you drink the soup, don't bet all your wealth!
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