February 1, 2026 12:30 (UTC+8), SOL is currently around $104, with a daily low of about $96.5, down over 10%, following a panic sell-off with the market, short-term bears dominate.

📊 Core indicators and key levels

- Key levels: Resistance at $108/$112; Support at $96/$90.
- Moving averages: 50/200-day moving averages are in a bearish alignment, with prices significantly deviating from the averages, indicating strong bearish pressure.
- RSI(14): Below 28, oversold, possibly a weak rebound but not a reversal.
- MACD( daily): Bearish crossover downward, strong bearish momentum.
- Volume: Increasing volume on decline, panic selling pressure is concentrated and released, making quick stabilization difficult in the short term.

⚙️ Trading strategies (short-term/contract)

- Contract strategy (aggressive): Short at rebound levels $106-$108, stop-loss at $110, target $100-$97, break below to $90.
- Spot strategy (conservative): Mainly observe, wait for volume to decrease and stabilize or for a second bottom, then gradually add light positions, position size ≤3%, stop-loss below $90.

⚠️ Risk warning

- Leverage risk: High leverage can lead to chain liquidations, contracts must be traded with light positions and strict stop-loss.
- Correlation risk: BTC movements are directly transmitted to macro fluctuations (such as sharp drops in precious metals), which can amplify volatility.
- Liquidity: When selling pressure concentrates, price slippage may exceed expectations.