May 8th SOL Market Analysis


Although the heat on the SOL chain has remained high, the price has failed to stabilize after multiple attempts to break through key resistance levels, clearly showing signs of a "false breakout with trap" pattern.
The biggest issue in the current market is that trading volume is beginning to shrink, and the rebound is not attracting new funds to follow through, more like the main players are taking advantage of the on-chain hype to sell off while pushing the price up.
On the surface, it looks strong, but the risk of chasing the rally is becoming increasingly high.
At this stage, do not easily get caught up in chasing highs; the strategy should lean more towards riding the trend and shorting at the top, waiting for a pullback to re-enter.
Trading suggestions:
SOL: Consider short positions around 81-93, with an intraday target of 80-83.
In a nutshell:
The current SOL looks more like it's pulling in buyers to take over at high levels rather than the start of a new major upward wave. #比特币跌破8万美元 $BTC $ETH $SOL
BTC-1.53%
ETH-1.85%
SOL0.19%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin