Coin Analysis: Solana (SOL)

As Ethereum’s most threatening high-performance monolithic chain competitor, Solana (SOL) has, after a panic-led wave of large-scale deleveraging in the broader market at the end of June (with Bitcoin briefly falling to $57,750 and the Market Fear and Greed Index plunging to an extreme low of 11), been accompanied by a strong V-shaped rebound as the broader market entered a recovery in early July. Currently, the SOL price has successfully regained its losses and surged back to around $80 to $82 (approximately NT$2,637), demonstrating an ability to absorb capital that far surpasses other public chains.

Cycle Phase: We are currently in a phase where the extreme panic flush has ended, with a strong rebound and structural recovery as the bulls return to dominance.

Support and Resistance: The lower $73.00 to $75.00 range has been established as the “steel support” zone for this correction. The primary psychological and technical resistance level above is at $85.00. Once it breaks out with volume and holds firm, it will officially signal a reversal of the medium-term correction trend and kick off a new round of bull market.

Spot ETF Capital Tsunami (An Extraordinarily Strong Institutional Positive): Even if the macro environment remains volatile, Solana spot ETFs have crazily attracted $1.06 billion to $1.13 billion in just three weeks. Among them, Franklin Templeton’s Solana fund has taken an even more direct and aggressive approach by “placing 100% of its holdings into native staking.” This not only locks up a large amount of circulating float in the market, but also creates additional on-chain interest-bearing returns for ETF holders, making it a perfect safe haven for institutional capital.

Disclaimer: This article is for reference only and does not constitute any investment advice. Cryptocurrencies involve a high level of risk; before investing, please be sure to do your own research and make a prudent assessment.

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