u姐7.23 SOL market analysis

SOL surged to a high of 78.85, then faced pressure and pulled back. The price action formed a double-top structure, and the rebound highs kept moving lower as the upside momentum from the bulls gradually waned. The price continuously broke below short-term moving average supports. The Bollinger Bands’ track turned downward, the market’s overall focus kept sinking, and the short-term period entered a correction cycle.

The overhead resistance zone is 77.80—78.50. Wait for the rebound to stall and then scale in short positions in batches; place a defensive stop-loss at 79. If the price effectively breaks above the resistance, the bearish thesis would fail.

First target: 77.00. Upon reaching it, reduce positions to take profit first; the remaining position looks toward 76.40 support. Market direction is linked to BTC. If major coins see strong rallies, promptly avoid the risk of short positions; trade with light leverage on futures, strictly set and follow stop-losses, and never hold positions through losses.