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Cato_KT
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Regarding SOL, some fans have been asking recently, but I haven’t had time to explain it to you.
Many people don’t know why it went up, but do you know why it fell after July 14 this year?
By the same token, the current surge in SOL can be regarded as an oversold rebound.
As SOL experienced this bear market, its price fell in a stepwise manner. When it stabilized to around 30, it was actually considered a relatively stable position. It could have continued to operate in shocks, but due to the issue of FTX liquidation, The largest fund held by FTX is SOL, and according to the requirements of creditors, FTX's assets may be sold off at a certain amount every week in July, and the funds obtained will be used to repay FTX's creditors. As soon as the news came out, SOL began to break through and the price continued to decline. The current downward trend is also a shock and step-like decline.
The recent upsurge is similar to an oversold rebound, but it is not technical, but news-based. Recently, FTX's bankruptcy liquidation client pledged 122,550,000 SOL worth to Lido, thus increasing expectations for SOL's future and reducing the panic of token selling caused by bankruptcy liquidation in July. , so SOL is currently experiencing an emotional rebound.
What will happen to SOL next? At present, the price of SOL has reached a relative pressure range, the 28-32 range. If it breaks through the upper range to 40, the space is still relatively sufficient. However, what I am talking about is that the premise is that the market funds are relatively sufficient and the market sentiment is active. If the ETF hype passes after next Tuesday, then SOL may not be able to break through the pressure range in the short term. Of course, it is also possible that the FOMO sentiment on Monday and Tuesday will allow SOL to break through the pressure range, but whether it can reach 40 in the short term depends on market sentiment and funds. .
In addition, it is worth your attention that the Lido community has voted to temporarily cancel the staking of SOL, which means that staking SOL to Lido has been closed. Those who are currently staking will still enjoy the benefits, and currently this part Pledgers, if they do not stop staking before February next year, the previous pledgers may not be able to withdraw SOL.
If you hold SOL, you can flexibly adjust according to the current situation. If you are a pledger, you should also pay attention to withdrawing the pledged SOL before February next year.
#solana $SOL
Many people don’t know why it went up, but do you know why it fell after July 14 this year?
By the same token, the current surge in SOL can be regarded as an oversold rebound.
As SOL experienced this bear market, its price fell in a stepwise manner. When it stabilized to around 30, it was actually considered a relatively stable position. It could have continued to operate in shocks, but due to the issue of FTX liquidation, The largest fund held by FTX is SOL, and according to the requirements of creditors, FTX's assets may be sold off at a certain amount every week in July, and the funds obtained will be used to repay FTX's creditors. As soon as the news came out, SOL began to break through and the price continued to decline. The current downward trend is also a shock and step-like decline.
The recent upsurge is similar to an oversold rebound, but it is not technical, but news-based. Recently, FTX's bankruptcy liquidation client pledged 122,550,000 SOL worth to Lido, thus increasing expectations for SOL's future and reducing the panic of token selling caused by bankruptcy liquidation in July. , so SOL is currently experiencing an emotional rebound.
What will happen to SOL next? At present, the price of SOL has reached a relative pressure range, the 28-32 range. If it breaks through the upper range to 40, the space is still relatively sufficient. However, what I am talking about is that the premise is that the market funds are relatively sufficient and the market sentiment is active. If the ETF hype passes after next Tuesday, then SOL may not be able to break through the pressure range in the short term. Of course, it is also possible that the FOMO sentiment on Monday and Tuesday will allow SOL to break through the pressure range, but whether it can reach 40 in the short term depends on market sentiment and funds. .
In addition, it is worth your attention that the Lido community has voted to temporarily cancel the staking of SOL, which means that staking SOL to Lido has been closed. Those who are currently staking will still enjoy the benefits, and currently this part Pledgers, if they do not stop staking before February next year, the previous pledgers may not be able to withdraw SOL.
If you hold SOL, you can flexibly adjust according to the current situation. If you are a pledger, you should also pay attention to withdrawing the pledged SOL before February next year.
#solana $SOL