In the context of yesterday's pullback in Bitcoin prices, Solana (SOL) performed as the market expected, showing a dip. The price of SOL precisely touched the $200 integer mark before rebounding. Although it did not dip to $196 as predicted by some analysts, the overall trend is largely in line with market expectations.


From the market performance perspective, SOL has demonstrated a stronger resistance to dips compared to Bitcoin and Ethereum. If Bitcoin stabilizes in the upcoming trades, SOL is likely to continue its upward trend. Currently, $220 is viewed as a key neckline resistance level. It is expected that SOL may require a period of consolidation to accumulate upward momentum before potentially breaking through again.
For investors, it is advisable to avoid frequent trading at the current stage. Instead, one can patiently wait for the price to pull back to the daily support area before considering building positions in batches.
Technical analysis shows that the main resistance levels for SOL are at $220, $236, and $254, while the important support levels are at $196, $184, $168, $144, and $136.
It is worth noting that there has been a continuous inflow of funds into the Solana ecosystem recently, which is considered one of the important factors driving the increase in SOL prices. However, investors still need to be cautious, closely monitor market trends, and manage risks appropriately.
BTC2.54%
SOL3.79%
ETH2.89%
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