Solana ($SOL ) Technical Analysis for October 6, 2025
Hourly Trend: The Solana hourly chart shows that the price is attempting to stabilize above $230. On the night of October 5th, SOL surged to a local high near $236 before retreating, leaving a small 'double top' pattern on the hourly chart (dropping after touching $235-$236 twice).
Currently, SOL is trading around $232, and the hourly chart has formed a slowly descending channel: the highs are gradually decreasing (from $236 to around $234), while the lows are also slightly moving down (rising from $228 to around $230). This suggests that the short-term upward momentum is slowing down, entering a narrow range of fluctuations.
In terms of indicators, the 1-hour RSI has been fluctuating around 50 without a significant trend, with buying and selling forces briefly balanced. The MACD shows occasional minor golden crosses and death crosses, with red and green bars alternating frequently, indicating a lack of clear direction in price.
It is worth noting that the hourly level is no longer overbought, with the RSI currently just above 50, which provides room for SOL's next move: if new bullish or bearish momentum enters, the RSI has ample room to move up or down.
The trading volume has significantly shrunk to a low level on the hourly chart, and the market sentiment is becoming increasingly cautious.
Overall judgment: SOL may be in a waiting phase for a breakout in the short term: either breaking down below $230 to adjust or breaking above $236 to resume the upward trend.
The key support on the hourly chart is at the $230 level (a round psychological level, also near yesterday's low point), and the key resistance is at $235-$236 (two highs from yesterday). Before breaking these levels, SOL is expected to fluctuate narrowly between $230 and $235.
On the 4-hour chart, Solana's recent upward momentum shows signs of acceleration: the price has been rising continuously along the 5-period moving average, with almost no deep pullbacks, only minor sideways consolidations before being pulled up again. SOL began this rally after gaining solid support around the $205 level.
After breaking through $220 at the beginning of October, a series of consecutive long bullish candles appeared on the 4-hour K-line, successfully pushing past $230. Currently, on the 4-hour chart, SOL is showing signs of high-level consolidation: it is hovering in the $232-$235 range and may be forming a short-term top. This is primarily indicated by several K-lines with significant upper shadows, and the extent of new highs is decreasing, suggesting a waning upward momentum. The RSI indicator briefly surged above 80, indicating extreme overbought levels on the 4-hour timeframe, but has since slightly retreated, currently sitting between 60-65. This means that short-term overheating has eased, but mid-term upward momentum still exists. The MACD indicator has formed a death cross at a high level, with green bars emerging but not significantly in size.
The MACD fast line has turned downward and crossed below the slow line, suggesting that short-term adjustments may unfold; however, the MACD remains above the zero line, indicating that bearish strength is not strong at the moment. Regarding the Bollinger Bands, the 4-hour Bollinger channel has opened significantly after a sharp rise, and the current price has retraced from the upper band to near the middle band, where the middle band (approximately $225) may provide some support for the price. If SOL can stabilize here, it is likely to absorb the overbought condition by exchanging time for space.
Overall, the 4-hour chart indicates that after a rapid surge, SOL is currently in a high-level consolidation phase—momentum has paused but has not reversed, with the subsequent direction depending on the tug-of-war between bulls and bears at the current level. #十月加密行情 $SOL
Daily Trend: Solana has shown strong performance in recent months, with a significant rebound on the daily chart. Since the mid-year low (around below $150), SOL has been oscillating upwards, especially accelerating after late September. In the past week, Solana's price surged over 20%, climbing from about $190 to around this week's high of $235. Currently, the trading price of SOL is approximately $230+, not far from the 2021 bull market peak of ~$260.
On the daily chart, after breaking through the important level of $200, SOL released significant upward momentum, with buyers facing almost no substantial resistance in pushing the price above $230. Recent candlesticks have consistently closed positively with expanding bodies, showing a typical bullish arrangement. The 9-day EMA and 21-day EMA have continued to diverge upwards since their golden cross at the beginning of October, with the current price well above these two moving averages, indicating a steep upward trend.
The daily RSI has risen to around 74, indicating overbought conditions (reflecting strong bullish momentum and potential overheating). The MACD indicator is also at a high level, with the fast and slow lines maintaining a significant positive distance above the zero axis, while the histogram remains positive.
However, it is important to note that while the last two daily candlesticks have reached new highs, the RSI has not reached a new high simultaneously, forming a slight divergence. This may be due to the proximity to previous historical highs, causing a temporary halt in the upward movement. Additionally, in terms of volume, the daily trading volume did not further expand when the price approached $230-$240, slightly lower than the volume peak observed during the breakout of the $200 level.
This suggests that while bulls are in control, cautious sentiment is also accumulating. Overall, the daily trend remains bullish, but it has gradually entered the previous high pressure zone, facing certain challenges in the short term. #BNB创新高 #BTC再创新高 #十月加密行情
9/23 Trading Plan Fulfilled: ETH Recovers Above 4,000 After Breaking 4,300, Triggering Short Covering, Attacking Up to 4,335
On 9/22, the market wasn't just an ordinary pullback, but a "leverage structure reset." On that day, the entire market experienced forced liquidations totaling $1.5–$1.8B within 24 hours, with ETH and BTC leading the decline, and risk assets entering an extreme panic zone—this is the "de-leveraging stage" that must be experienced before any rebound.
I provided a clear scenario tree on 9/23: 4000 is the minimal watershed. If it is lost, then we observe the secondary support at 3800/3500; if it regains 4000 with volume, then above 4,200–4,350, there is a large accumulation of short liquidation positions, and once broken, it will trigger a short squeeze in a short time. This judgment is based on the liquidation distribution and derivatives structure at that time: multiple data sources showed that above 4,200, there were billions of dollars' worth of short liquidation risks piled up, and the price only needs to ignite and cross the line to potentially form a mechanical "passive buying waterfall."
The facts were verified on the evening of 10/1: ETH rose about 5% in 24 hours and once again stood above $4,335. Thus, the path of "de-leveraging → reclaiming the key level → stampede-like covering" has been fully realized, and the plan on 9/23 has been successfully fulfilled# #Token2049新加坡 #比特币价格震荡
Recently, the risk of a government shutdown in the United States has risen again: federal funding will expire on September 30, and if Congress fails to pass a new appropriations bill, a partial shutdown may begin on October 1. Currently, negotiations are at a standstill, with Democrats blocking Republican proposals, and the White House threatening large-scale layoffs of federal employees, increasing the probability of a shutdown.
However, based on historical experience, government shutdowns (especially short-term) often have limited impacts on financial markets: • In the past few shutdowns lasting more than 5 trading days, the S&P 500 index has more often risen rather than fallen. • During shutdowns, the stock market has performed positively half the time, and generally trends higher three and six months later. • The market typically views shutdowns as political events rather than economic crises, and if they end quickly, the impact is smaller.
Of course, ❗️ this time the environment is special: political divisions are intensifying, the economy is fragile (e.g., high interest rates), and prolonged shutdowns could lead to losses of about $7 billion per week, or amplify uncertainty, resulting in short-term market volatility or turbulence ⚠️.
Risk Warning: Please remain vigilant, pay attention to real-time news and economic data, and avoid emotional trading. A government shutdown may delay data releases, increasing decision-making uncertainty; investment carries risks, and it is advisable to rationally diversify assets and not go all in based on a single event. Trade cautiously and protect your principal!
Evening review on September 26 of ETH price and overall market sentiment
ETH price is approximately $3,850-$3,917, down 3.12%-3.73% in 24 hours, with a market cap of about $469B. Short-term net outflow reflects dominant selling pressure. • RSI indicator is oversold (@30), suggesting a potential rebound, but perpetual contract funding rates are bearish (negative shift), increasing downside risk. Analysts predict short-term support at $3,850; if broken, it may fall to $3,000; long-term target is $12,000 (based on institutional demand). • Macro background: Trump's tariffs and Federal Reserve GDP data have triggered market turbulence, with the overall crypto market declining (BTC -2.17%). ETH to BTC ratio is bearish (-21 points), while SOL is strong against ETH (+32 points), indicating a rotation of funds to other Layer 1s.
BMNR acceleration of hoarding boosts confidence at the ETH bottom, with whales buying over 1 billion USD. Short-term risk drops to 2750 USD, but the technical outlook is bullish, potentially reaching 7800 USD by the end of the year. If US 401(k) funds flow in (potential 125 billion), ETH/BTC could explode 5 times. The BMNR model may inspire more corporate ETH treasury, accelerating adoption; but caution is needed regarding dilution and volatility.
This wave of operations demonstrates institutional resolve; retail investors can take notes: buy on dips, HODL through the bear market!
AB Kuai Dong
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On the day the market fell yesterday, only ETH MicroStrategy BMNR received approximately 195,000 ETH from various over-the-counter and trading platforms, equivalent to about 760 million US dollars.
According to past disclosures, the company only purchased 260,000 ETH last week, in other words, this wave of decline accelerated BMNR's purchase frequency of $ETH .
Tom Lee is taking action to bottom out. (Although it is not his own money.
September 25 ETH plummeted (falling below $4000, weekly drop of 12-13%), the market evaporated $140 billion, affected by futures liquidation, concerns over the U.S. government shutdown, and ETF outflows. However, BMNR single-day raised approximately 196,000 ETH (worth about $800 million) from platforms like FalconX and Kraken, close to 195,000 ETH/$760 million. Last week, only 260,000 ETH were bought throughout the week, this time clearly accelerating the bottom fishing, Tom Lee is practicing bullish sentiments with real actions.
AB Kuai Dong
--
On the day the market fell yesterday, only ETH MicroStrategy BMNR received approximately 195,000 ETH from various over-the-counter and trading platforms, equivalent to about 760 million US dollars.
According to past disclosures, the company only purchased 260,000 ETH last week, in other words, this wave of decline accelerated BMNR's purchase frequency of $ETH .
Tom Lee is taking action to bottom out. (Although it is not his own money.
BitMine Immersion Technologies (BMNR) is known as the 'MicroStrategy of Ethereum', led by Tom Lee of Fundstrat. The company imitates MicroStrategy's Bitcoin strategy by raising funds through stock issuance and accumulating ETH in large quantities. Currently, it holds over 2.4 million ETH, accounting for more than 2% of the total supply, with a total cryptocurrency asset value of 11.4 billion dollars.
AB Kuai Dong
--
On the day the market fell yesterday, only ETH MicroStrategy BMNR received approximately 195,000 ETH from various over-the-counter and trading platforms, equivalent to about 760 million US dollars.
According to past disclosures, the company only purchased 260,000 ETH last week, in other words, this wave of decline accelerated BMNR's purchase frequency of $ETH .
Tom Lee is taking action to bottom out. (Although it is not his own money.