$SOL The daily chart has already fallen below the previous support, coming down to the 72 support level. The SOL volume here is the same as before, but the downside move is smaller—this is a bullish signal, but it won’t necessarily lead to a rise from there. For today, you can still trade intraday. The long-term trend is still unclear.

In the 4-hour chart, it dropped from 77 to 72, then pulled up to 74. It formed a cross-like doji, and then it fell again. There’s a high likelihood that 72 here will be broken, so don’t try to go long here. This hour has been ranging around 73 for a long time; the wick dipped down and then was pulled back up, but the rebound didn’t reach halfway of the prior drop. SOL here should likely go down to probe the 70 area. So for anyone looking to go long, wait and catch it around 70.

As for today, avoid going in with heavy positions and avoid averaging down. In the evening, wait for the Fed’s news to come out, then follow the news to trade trend setups. The current volume contraction has a very strong correlation with tonight’s Fed news, so everyone should be patient and wait until the news breaks before placing trades.