[Global Exclusive] SOL crashes sharply and retests the 96 level: Is it the main force digging a trap or the end of the trend? The secret script has already been written!

Comrades, I am your technical navigator.

If BTC is the stabilizing force, then SOL is the sharpest arrow in this wave of market movement. But today, May 12th, this arrow seems to have hit a wall at the high point of 98.36. Currently, SOL’s price has fallen back to hover around 96.14 - 96.19, and bearish sentiment is spreading.

The market won’t go up forever; a pullback is the best “shakeout.” Is this decline to prepare for a more stable rise, or is the building about to collapse? Look beyond the surface, and let’s directly deconstruct the market.

1. Multi-cycle hardcore indicator scan

1. Daily chart level: Strong oscillation, retesting MA5

From the daily chart perspective, SOL still maintains a very nice ascending flag pattern.

• Trend analysis: The moving averages are in a perfect bullish alignment. Today’s pullback, on the daily chart, looks more like a retouch confirmation of the previous breakout zone.
• Core support: The support at MA10 below is around 94.5. As long as the daily close does not break below this level with increased volume, the bullish rally can resume at any time.
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2. Four-hour chart (4H): High-level sideways, chips are changing hands

In the 4-hour chart, we can see clear signs of a continuation pattern.

• Pattern analysis: Price encountered resistance at the 98 level and pulled back, currently seeking support in the 95.5 - 96.0 range.
• Warning signals: The MACD fast and slow lines are flattening at high levels, and the energy bars are weakening. This indicates the market has entered a consolidation and buildup phase, reducing the likelihood of a sudden violent breakout in the short term, favoring a time-for-space approach.
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3. One-hour chart (1H): Short-term showdown at the 96 level

Look at this most straightforward 1-hour candlestick chart:

• Fatal retracement: The sharp drop from the spike at 98.36 was decisive, piercing through MA5 and MA10 (green and yellow lines).
• Lifeline: Currently, the price is floating above MA30 (purple line). 96.14 is both the current price and the short-term bull-bear dividing line.
• Bullish counterattack point: As long as the 1-hour chart does not show a volume-backed large bearish candle breaking below 95.5, this correction is likely to form an “arc bottom” or “double bottom” structure, re-challenging the $100 level.
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2. Today’s core trading tactics

For high-elasticity assets like SOL, our strategy must be “fast, accurate, and ruthless.”

Strategy A: Bottom accumulation (bullish scenario)

• Entry zone: 95.2 - 95.8.
• Reason: This is the support dense area from the previous volume surge, also just above the psychological threshold.
• Target: First target 97.5, then confidently aim for 100.
• Stop-loss: Strictly set at 94.3.

Strategy B: Rebound attempt to short (bearish arbitrage)

• Entry zone: If the price rebounds to around 97.2 - 97.5 but fails to stabilize.
• Reason: The pressure from the moving average death cross after the rebound.
• Target: Look down towards 95.0.

3. The expert blogger’s concluding remarks

Comrades, SOL’s resilience is well recognized. 96.0 is the last psychological line of defense for the short-term bulls. In this high-level oscillation market, the most taboo is frequent switching and chasing highs and lows.

• Insider tip from the blogger: The current correction aims to shake out those with high leverage floating positions. At this point, stay calm, observe the support strength at 95.5. If an entry opportunity near 95 appears, it’s very likely a “golden pit” handed to you by the main force.

Risk warning: In the crypto world, one day is like a year in the human world. Technical indicators are probabilities; position management is life. Brothers who find this insightful, drop a “666” in the comments, and let’s witness SOL breaking 100 together!