7.6 Monday SOL Early Morning Analysis

The loose expectation dividend brought by the previous non-farm payrolls has been fully digested. Today, the U.S. dollar and U.S. bond yields rebounded simultaneously, with overall market risk appetite declining. SOL's performance is significantly weaker than Bitcoin and Ethereum, making it a typical coin that follows the downside, lacking its own independent upward momentum.


Technically, short-term strong resistance is concentrated in the $84-86 range. Multiple intraday rallies have met concentrated profit-taking selling pressure here, with accumulated earlier trapped positions. Without a significant increase in volume and fresh capital, it is difficult to break through effectively. Medium-term resistance is at $90, which is the previous consolidation range, severely limiting upside space. Short-term defensive support is at $78-79. $75 is the key watershed for the strength of this rebound. Once effectively broken, the short-term recovery rally will completely end, and the next support will look toward the $72 range. On the indicators, the four-hour bullish momentum continues to weaken, the RSI has turned down from a high level, the MACD bullish histogram bars continue to narrow, the price has been running below the medium- and long-term moving averages for a long time, and the bearish structure on the larger cycle is intact.
Operation suggestion: Short from 81.75-82.25, target 81.25, if broken see 80.50, if not broken reverse to long.
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