$68.5 SOL—do you dare to buy the dip?

First, look at the surface: a barrage of positives, but the price hasn’t risen much.

Over the past month, it fell from 80+ to 62, a drop of over 20%. After hitting strong support at 62–63.5 in early June and rebounding, it’s now at 68.5. Up 1.5% in the last 24 hours, trading volume $2.35 billion, market cap $39 billion, ranked #7. The candlestick chart tells you: the downtrend channel has been broken, the early shape of a double-bottom structure is forming, RSI/MACD are neutral, and the MA is starting to curl upward—bottoming has been successful; now it’s waiting for confirmation.

First thing: SpaceX stocks on-chain—this is not small news

In June, Solana pulled off a major move: tokenized SpaceX stocks, launched on the same day as Nasdaq. This is a milestone for institutional-level RWA.

At the same time, DEXs like Orca launched RWA trading markets; native subscription payment functionality went live, and on-chain perpetual contracts are also under development. May ecosystem recap: RWA TVL hit an all-time high of more than $2.8 billion, stablecoin supply reached $16.4 billion, and ETF inflows broke records.

Second thing: macro is like a bucket of cold water

BTC is now at 63,500—last week it just went through a big selloff. ETH is only 1,660. Fed Chair Warsh is hawkish; inflation is sticky, and rate cuts are nowhere in sight. Both BTC/ETH ETFs are seeing outflows.

Solana and BTC still have a very high correlation.

When BTC drops, SOL drops with it. When BTC goes sideways, SOL finally dares to rise.

Third thing: a technical signal you must pay attention to

First, the good:

On June 7, it broke out of the downtrend channel on increased volume, forming higher lows. The strong support zone of $62–63.5 has been validated multiple times. The 4H chart has pushed into the Ichimoku cloud, with momentum improving. If it can hold steady at 68.5–70, the first target is 72–75, and the second target is 78.

Now, the bad:

On the daily timeframe, it’s still inside a larger-scale correction channel; 68.5–70 is the most important level right now. If it can’t push through, it will likely pull back to 62, even to 58–60. Also, trading volume hasn’t clearly expanded, which indicates there isn’t strong willingness to chase higher prices.

Bull vs. bear showdown—you decide

One side is:

SpaceX stocks on-chain, RWA TVL hits a new high

Subscription payments + perpetual contracts go live; the ecosystem keeps upgrading

Stablecoin supply at $16.4 billion, DeFi TVL at $4.6 billion—fundamentals are solid

Rebounded from 62 to 68, breaking out of the downtrend channel

The other side is:

Macro is hawkish, BTC/ETF outflows

68.5 has rejected price three times, and volume hasn’t expanded

Still inside a larger-scale correction channel

If BTC breaks below 60, SOL will follow down

Key level: 68.5—only 1.5 dollars away from the life-or-death line at 70, and 6.5 dollars away from support at 62.

Resistance overhead: 68.5–70 (bull/bear life-or-death line) → 72–75 → 78–80

Support below: 64–65.5 → 62–63.5 (iron bottom) → 58–60

For short-term traders:

Buy in batches on pullbacks to 64–65.5, stop-loss at 61.8. First target 70–72—sell half first. If it holds above 68.5, add positions and look toward 75–78.

For swing traders:

Wait until the daily close holds above 68.5 before considering adding. Target 75–80. If it can’t break through 68.5 three times, reduce positions and wait.

For long-term believers:

DCA (dollar-cost average) in the 62–65 range. Solana’s fundamentals haven’t changed—high throughput, low fees, and leading RWA + payments. Long-term target is 100–150 (near historical highs). But don’t go all in—keep cash ready for black swan events.

Risk iron rule:

5–10% per trade; strict stop-loss

Keep an eye on BTC—if BTC breaks 60,000, cut positions immediately

Watch Fed remarks and RWA inflow data

Prefer spot trading; leverage no more than 2x

SOL now is like LINK from the end of 2023—

Everyone said “the RWA narrative is just a scam,” and yet LINK rose from 5 to 20.

Solana’s RWA + payments narrative is only just beginning.

Fundamentals won’t lie—what lies is always your own fear. #我的Gate交易时刻 #TradFiCFD黄金大师赛 #预测世界杯美国VS巴拉圭 $ETH $SOL $BTC