Yesterday my friend asked me if $SOL can still be bought, and I said you should first see what Standard Chartered Bank has done. This top global investment bank has just cut its year-end target price for SOL from $310 to $250. The reason is simple: concerns that Solana relies too much on Memecoin and is transforming too slowly. But what is the truth?
On one side, institutions are bearish, while on the other side, real money is rushing to buy. In 72 hours, 1.07 million SOL were withdrawn from exchanges. This money does not belong to retail investors; retail investors do not have this scale. What’s even more interesting is that the number of active Solana addresses has doubled this year, reaching 4.8 million. This is not fabricated data; it reflects real users voting with their feet.
This kind of show: saying no with the mouth while the body is very honest. While Standard Chartered lowers its target price, Multicoin transfers $47 million of JITOSOL to the trading platform. Forward Industries, despite a $1 billion accounting loss, is still bottom-fishing to consolidate asset management companies. What is this called? This is called building a platform in plain sight while secretly operating a dark channel.
The technical aspect is even more interesting: MACD is continuously negative, RSI is declining, and it looks bleak. But the lower Bollinger Band is rebounding, KDJ is crossing golden, and a double bottom is confirmed. At a price of $83.99, with support at $82.86 and resistance at $89.08. This position is either a good opportunity to buy at the bottom or a value trap.
Short-term view on technicals, medium-term view on fundamentals, long-term view on cognitive differences. The current SOL is at the peak of cognitive differences.
Short-term strategy Long: Observe the support at $82.86, and if it does not break, consider lightly building a position, with a stop loss set below $82; the first target is $87.5, and the second target is above $89. Short: If there is no strength to break the short-term resistance level of $85 in the next two days, consider trying a short position in the range of $84.5 to $85, with a stop loss set above $86, aiming for a target of $82 or even around $80.
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