Archie Lim

$SOL SOL got beaten up by the market again—down more than 3% 😂 Today’s tape is pretty interesting. BTC dips a bit, and SOL just amplifies it. When the market gets slightly nervous: BTC: Fine, I’ll drop 2% first. SOL: Then I’ll do 3%+. That’s what a high-beta asset is like. When the market is bullish, it runs faster than anyone. When the market flinches, it’s also the first one kicked out by the funds 😂 This time SOL is down mainly because: the escalation of the US-Iran conflict, and oil prices rising. Global bond yields continue climbing. The market has started to worry again about inflation and interest rates. In an environment like this, funds naturally cut first into high-risk, high-volatility assets. So this time SOL is down 3%. It doesn’t really have much to do with fundamentals. It’s mostly about market sentiment. Once macro risk shows up, this high-beta SOL gets slapped first. Right now, SOL’s price is around 99. After it surged to 110 a few days ago, it’s been falling and correcting. If it can hold above the 97 area, then this pullback after the breakdown could be considered a test. The first support zone below is between 95.5 and 97.5. Long brothers can scale in and go long around 95. The strongest support is 93. If it breaks, the uptrend will be damaged, and then things won’t be so easy to predict. For resistance above: the first level is around 102, then 110. I think 130 should be achievable in the future. 168 also seems possible 😀 The situation is still unclear. For long-term positions, enter in batches. Buy a little on the dips. For short-term trading, brothers be cautious about shorting. Try to trade in line with the bigger trend. Use strict stop-losses on your trades. #solanafallsover3%