SOL Today, I didn’t make a move—not because I was afraid, but because I think it’s a bit too soon.
This morning, SOL was at $78.80, down -3.53%. Yesterday’s high was $83.48, and today it dropped to a low of $77.85. A drop like this can easily tempt people to buy the dip, but the more tempted I am, the more I need to take it slow.
The broader market isn’t looking good either. The Fear and Greed Index is 20/100, in extreme fear territory. BTC dominance is 57.38%; money is still in BTC, so altcoins are already having a hard time.
To be honest, the technical picture doesn’t look great either.
RSI(6) is only 10.43—oversold, so a quick bounce is certainly possible. But oversold doesn’t mean a reversal; it only means the bears have nearly exhausted their selling pressure.
Price is below MA7 at $84.33, MA25 at $94.43, and MA99 at $100.15—all acting as resistance. MACD has been bearish for 43 candles, and SuperTrend is at $92.66, still signaling a downtrend.
The funding picture is the most worth watching. Whales had a net inflow of 88,033 SOL today, but longs account for 78.15%, and the funding rate is +0.01%—longs are still paying. Over the past 24 hours, $18.7M in positions were liquidated, mostly longs.
So I’m not rushing in. I’m waiting for confirmation.
On-chain TVL is around $5B, down -5.74% this week, and daily active users are at 2.4M, below average. FTX / Alameda also unstaked 204,044 SOL, worth about $16.89M. They may not sell, but keep the added supply pressure in mind.
My plan is clear:
Entry: 80.20, but I’ll only enter if 79.80 holds
Stop-loss: 77.80; I’m out if it breaks below
Target 1: 82.38, the liquidation zone—take some profit first
Target 2: 85.70
If 79.80 doesn’t hold, I won’t trade today.
Do you think 79.80 will hold, or will it drop to 77.85?
By the way, have you looked at BTC and BNB? If BTC is unstable, it’ll be hard for BNB to move up on its own. Do you think BTC can help BNB hold steady tonight?
— Med BHN 7
#SOL #BTC #BNB #Cryptocurrency #Solana
This morning, SOL was at $78.80, down -3.53%. Yesterday’s high was $83.48, and today it dropped to a low of $77.85. A drop like this can easily tempt people to buy the dip, but the more tempted I am, the more I need to take it slow.
The broader market isn’t looking good either. The Fear and Greed Index is 20/100, in extreme fear territory. BTC dominance is 57.38%; money is still in BTC, so altcoins are already having a hard time.
To be honest, the technical picture doesn’t look great either.
RSI(6) is only 10.43—oversold, so a quick bounce is certainly possible. But oversold doesn’t mean a reversal; it only means the bears have nearly exhausted their selling pressure.
Price is below MA7 at $84.33, MA25 at $94.43, and MA99 at $100.15—all acting as resistance. MACD has been bearish for 43 candles, and SuperTrend is at $92.66, still signaling a downtrend.
The funding picture is the most worth watching. Whales had a net inflow of 88,033 SOL today, but longs account for 78.15%, and the funding rate is +0.01%—longs are still paying. Over the past 24 hours, $18.7M in positions were liquidated, mostly longs.
So I’m not rushing in. I’m waiting for confirmation.
On-chain TVL is around $5B, down -5.74% this week, and daily active users are at 2.4M, below average. FTX / Alameda also unstaked 204,044 SOL, worth about $16.89M. They may not sell, but keep the added supply pressure in mind.
My plan is clear:
Entry: 80.20, but I’ll only enter if 79.80 holds
Stop-loss: 77.80; I’m out if it breaks below
Target 1: 82.38, the liquidation zone—take some profit first
Target 2: 85.70
If 79.80 doesn’t hold, I won’t trade today.
Do you think 79.80 will hold, or will it drop to 77.85?
By the way, have you looked at BTC and BNB? If BTC is unstable, it’ll be hard for BNB to move up on its own. Do you think BTC can help BNB hold steady tonight?
— Med BHN 7
#SOL #BTC #BNB #Cryptocurrency #Solana
