6.26 Friday SOL Midday Thoughts

Today, SOL moved in sync with the broader market, weakening to trade in the $66-67 range, with a 24-hour decline of about 3.3%. The daily high was $71.88, and the low was near $64. The weekly candle continued to close bearish, with volatility greater than BTC and slightly better resilience than ETH. In the derivatives market, long positions faced concentrated liquidation, coupled with large-scale options settlement across the entire market today. Leverage selling pressure continues to unwind, spot trading volume has shrunk significantly, and capital is adopting a wait-and-see attitude.
Technically, it remains in a downward channel, with the price under pressure below the 50-day moving average. The moving averages form layers of resistance. The RSI has briefly entered oversold territory, which can only lead to a short-term bounce from oversold conditions, with no reversal structure.
Key levels: Short-term support at $64, swing strong support at $60. If these levels break effectively, the next target would be around $53. Above, first resistance is at $69-70. Only a firm hold above $78 would create the conditions for a staged rebound.
Trading suggestion: Short on a rebound to 67.5-68, target 65, break sees 64$BTC $ETH $SOL