Circle is printing a crazy 1 billion $USDC ! Will $SOL fly?


Buddy, there's big news on-chain, Circle has issued an additional 1 billion USDC on Solana in 15 minutes, this is a real signal!
News side:
Circle has cumulatively issued an additional 1 billion USDC on the SOL chain, usually indicating large demand from big capital inflows. Several previous large issuances were followed by strong SOL increases, this time it's likely institutions are positioning themselves early.
Technical side:
Current price 74.7, has broken through the upper BOLL 74.5, strongly bullish.
RSI1 79.93 approaching overbought, in the short term there is a need for correction.
Support below: 73.5, strong support 72.5.
Target above: 76.5-77.0.
Gongming's view:
The additional issuance of 1 billion USDC is a real positive sentiment from the fund side, in the medium term optimistic that SOL will continue to strengthen. But in the short term RSI overbought, chasing gains is easy to get trapped, safer to wait for a correction.
Operation strategy:
Conservative ones wait for a correction around 73.5-74 to go long, aggressive ones at the current price around 74.7 go long.
The entry of 1 billion USDC is not a small amount, suggestion to be more conservative, wait for confirmation of a retest before acting.
SOL4.72%
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