Is $68 SOL still worth chasing?

First, look at the surface: bullish news bombarding, price hesitating.

Dropped to a low of $60.11 in early June, now rebounding to $67.8-$68.3. Slight 0.1%-2% increase over 24 hours, 7-day gain of 7%, but still down 25% over a month. Market cap is $39.3 billion, ranked 7th. The candlestick chart shows: after bouncing from $60, forming a “higher low + higher high,” testing resistance at $68.5, with support at $62-$63.5. RSI/MACD are neutral, volume moderate—breakout imminent, but needs a spark.

First thing: WSOP + SpaceX, is this real landing or fake hype?

Solana becomes the official sponsor of the World Series of Poker, players can register with SOL fee-free. SpaceX stock tokens are directly tradable on Solana after tokenization. Morgan Stanley allows clients to lend out SOL for ETP shares.

But after these announcements, SOL only rose less than 10%.

Why can’t it push higher this time?

Two reasons:

Macro environment is too tight. CPI at 4.2%, Fed not cutting interest rates, liquidity tightening.

In a bull market, news is fuel; in a bear market, news is traps.

Second: Is there really a problem with Solana’s fundamentals?

TVL is $4.7 billion, stablecoin market cap over $15 billion, daily active addresses between 2-4 million, RWA daily transfers once hit $1.49 billion. Staking volume hits new highs.

At the 2025 peak, SOL was close to $300. Now at $68, down 77%.

ETH dropped from $4,000 to $2,000, a 50% decline.

Solana’s volatility is always twice that of ETH.

Third: Technical signals show a “must break through” pattern

Daily chart has formed a “higher low + higher high,” indicating a bullish structure. Successfully breaking out of the previous downtrend channel, entering the decision zone at $66.8-$68.5.

But—

SOL has hit the $68.5 level three times.

If it can’t break through this time, it will retest $62-$63.5, possibly even $60.

Weekly and monthly charts are still adjusting, MACD has not fully confirmed a golden cross.

Break above $68.5, target $72-$75; if not, continue the rollercoaster.

Bull-bear showdown, see for yourself.

One side:

WSOP sponsorship + SpaceX tokenization, phenomenon-level adoption

RWA net inflow ranks first across the chain, Securitize fund landing

Morgan Stanley support, positive ETF inflows

Daily active users 4 million, staking hitting new highs, solid fundamentals

Other side:

Macro liquidity tight, high CPI, Fed not cutting rates

$68.5 blocked three times, technicals need volume confirmation

Down 25% in a month, trend not fully reversed

High-volatility asset, pullbacks could be painful

Key level at $68, just 0.5 away from the critical $68.5 death line.

Resistance above: $68.5 (bulls’ life/death line) → $71.5 → $72-$75 → $80+

Support below: $65-$66.5 → $62-$63.5 → $60 (strong bottom)

Short-term traders:

Wait for retests at $65-$66.5 to buy in chunks, stop-loss at $60. Or wait for volume breakout above $68.5 to chase, stop-loss at $67. First target $72-$75, second target $80+.

Swing traders:

Break above $68.5 and hold, aim for $85-$100. If stuck in the $66-$68 range, watch and wait for a clear direction.

Long-term believers:

DCA in the $60-$65 zone. Solana’s RWA + payment narrative is the main theme for the next three years, but don’t go all-in. Add on every 10% dip, keep cash for black swans.

Risk rule:

Keep position size at 10-20%, don’t go all-in.

Watch BTC closely: if BTC drops below $62k, SOL will fall even deeper.

Pay attention to the Fed meeting on June 17-18, hawkish signals mean reducing holdings.

Leverage no more than 3x, prioritize spot.

SOL now is like ETH at the start of 2023—

Everyone said “L2 will kill Solana,” but what happened?

Solana went from $8 to over $200.

A truly good project isn’t without negatives, but each negative causes shallower dips, each positive #我的Gate交易时刻 causes sharper rises.