6.8 SOL ideas for midday: follow the trend to go short

The rebound of SOL is only a technical pullback after a continuous sharp decline, not a trend reversal, but a “sweet trap” set by the bears. The weak pattern has long been solidified. Although over the weekend it dipped to 62.97 and then rebounded to 66.5, the volume was weak, and buying interest was thin, purely a game of existing funds, with large capital not truly entering.

On the technical side, the daily chart shows a complete bearish arrangement, and after touching the strong resistance zone at 67-68 on the hourly chart, the bullish momentum has weakened. The RSI is turning at a high level, the MACD red histogram is shortening, indicating a clear sign of a pullback. The 68 level above is a critical resistance, unlikely to be broken; the support at 63 below is fragile, and once broken, it will head straight to 60 or even 50.

The current rebound is the last chance to reduce positions and exit, not a bottom-fishing opportunity. SOL’s downtrend is far from over; after a false rally, a deeper decline is inevitable. It is recommended to hold tight to positions and follow the trend to go short; the bear market feast has just begun.

Trading suggestion: bearish in the 66-68 range, target 60-58, if broken, continue to look down to 50