The latest on-chain data shows that a significant large transaction has occurred on the Solana (SOL) network—approximately 180,000 SOL were transferred around $178, and this move is interpreted by the market as a possible signal for large-scale buying.



From the market sentiment perspective, the current funding rate across the market is generally negative, which is usually seen as a reflection of bearish sentiment. However, historical data shows that when market sentiment is overly skewed, there is often a reversal in the market. For example, after the significant market drop on May 19, Bitcoin rebounded by 40% within a week. Currently, the negative funding rate for SOL has persisted for three days, which may indicate that a rebound is imminent.

From a technical analysis perspective, SOL is currently hovering around $182, which is a key position. The MACD indicator has formed a golden cross, but the trading volume is relatively insufficient. It is worth noting that the support level at $178 has withstood multiple tests, which may indicate that large funds are defending this price level.

For traders with different investment strategies, the following actions can be considered:

1. For investors who have not yet established a position, consider buying in batches in the range of $178-180, setting the stop-loss at $175, and the first target price at $190.

2. For investors who already have positions but are in a loss state, it may be worth considering moderately increasing their positions around $182 to lower the average cost, and then reducing part of their positions when the price rebounds to $195.

3. For investors with a higher risk tolerance, attention can be given to the breakout point of $195. Once broken, consider adding long positions, with a target price of $200.

It is important to emphasize that the cryptocurrency market is highly volatile, and investors should make cautious decisions based on their own risk tolerance and ensure proper risk management.
SOL0.95%
BTC1.48%
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alpha_leakervip
· 43m ago
Let it go, buy the dip! Go for it!
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