Major public blockchain $SOL continues to trend lower, currently quoted at $71.11, down approximately 2.85% over the past 24 hours, with total trading volume across the network reaching $5 billion.
Technical indicators: The price is testing the broader support zone of $70–$73.50, which has held for several months. The daily RSI is nearing the deeply oversold range of 25–30, contract funding rates have contracted sharply, and floating short positions in the market have accumulated noticeably.
Key levels to watch:
- Key support to the downside: The $70.00 round-number level (a break below would open the door to a deeper correction)
- Initial resistance on a rebound: $80.00–$81.00 (a breakout is needed to confirm signs of short-term stabilization)
Trading risks: If bulls can form a double bottom above $70, a short squeeze could fuel a rebound. However, if $70 fails to hold, beware of a cascade of selling triggered by stop-loss orders.
For market observation only; this does not constitute investment advice.
#SOL #Solana
Technical indicators: The price is testing the broader support zone of $70–$73.50, which has held for several months. The daily RSI is nearing the deeply oversold range of 25–30, contract funding rates have contracted sharply, and floating short positions in the market have accumulated noticeably.
Key levels to watch:
- Key support to the downside: The $70.00 round-number level (a break below would open the door to a deeper correction)
- Initial resistance on a rebound: $80.00–$81.00 (a breakout is needed to confirm signs of short-term stabilization)
Trading risks: If bulls can form a double bottom above $70, a short squeeze could fuel a rebound. However, if $70 fails to hold, beware of a cascade of selling triggered by stop-loss orders.
For market observation only; this does not constitute investment advice.
#SOL #Solana