The biggest bullish catalyst this month: the crypto bill is about to pass!
This rebound, $SOL has performed particularly well. One reason is that treasury companies are buying back shares with cash, provided the price doesn’t fall below 100. The market sees this level as both support and a bottom, so there are very strong buy orders placed in that range. Another reason is catch-up gains: after a weak start, this oversold rebound is now in a recovery phase. SOL also has more upside potential than BTC and ETH. Most of the leveraged long positions from this rally have now been shaken out, and Bitcoin’s monthly trend doesn’t support a major drop. In the short term, we’re watching whether $ETH can break through the strongest daily resistance near 2,470. For comparison, SOL is around 107.2–107.5. However, the market will most likely continue to rise after the U.S. stock market opens tonight. It may pull back slightly between 18:00 and the U.S. market open, so those who haven’t gone long can wait for a dip in this range and trade the swing.
#sol
This rebound, $SOL has performed particularly well. One reason is that treasury companies are buying back shares with cash, provided the price doesn’t fall below 100. The market sees this level as both support and a bottom, so there are very strong buy orders placed in that range. Another reason is catch-up gains: after a weak start, this oversold rebound is now in a recovery phase. SOL also has more upside potential than BTC and ETH. Most of the leveraged long positions from this rally have now been shaken out, and Bitcoin’s monthly trend doesn’t support a major drop. In the short term, we’re watching whether $ETH can break through the strongest daily resistance near 2,470. For comparison, SOL is around 107.2–107.5. However, the market will most likely continue to rise after the U.S. stock market opens tonight. It may pull back slightly between 18:00 and the U.S. market open, so those who haven’t gone long can wait for a dip in this range and trade the swing.
#sol