8.18 Wang Ye SOL thoughts
Entry: 76.00–76.80, scale in with multiple batches
Stop loss: Above 77.80
Targets: First target 75.00, second target 74.00
Core logic: Early in the 1H cycle, after pushing to the high at 77.88, price pulled back and formed a long upper wick. After the bulls tested, momentum gradually weakened and then price dropped to the low at 75.54. In the short term, moving averages continue pointing down, creating persistent pressure; price is trading below the Bollinger midline, and the bearish trend is initially established. The current rebound is a corrective move within a broader downtrend. The larger structure remains weak, and rebounds that meet resistance are prone to a second drop. The zone above 77.50–78.70 is a strong resistance area, forming a short-term “ceiling.” As SOL is a high-beta asset, when the broader market pulls back, its losses often become larger. The rebound into the range is the short opportunity window. $SOL
Entry: 76.00–76.80, scale in with multiple batches
Stop loss: Above 77.80
Targets: First target 75.00, second target 74.00
Core logic: Early in the 1H cycle, after pushing to the high at 77.88, price pulled back and formed a long upper wick. After the bulls tested, momentum gradually weakened and then price dropped to the low at 75.54. In the short term, moving averages continue pointing down, creating persistent pressure; price is trading below the Bollinger midline, and the bearish trend is initially established. The current rebound is a corrective move within a broader downtrend. The larger structure remains weak, and rebounds that meet resistance are prone to a second drop. The zone above 77.50–78.70 is a strong resistance area, forming a short-term “ceiling.” As SOL is a high-beta asset, when the broader market pulls back, its losses often become larger. The rebound into the range is the short opportunity window. $SOL