$SOL has shown significantly outperformance recently compared to $BTC and $ETH. I positioned long orders around 86 yesterday with a stop loss set at 84.9, and the current price level and directional analysis have both been validated.
Many investors are curious about the core logic behind SOL's strong rebound, which essentially stems from **oversold recovery**: In this bear market cycle, BTC has accumulated losses of 52%, $ETH is 64%, while SOL's decline reached 77%, approaching altcoin correction levels. However, its fundamentals have already entered the tier of mainstream public chains. SOL's typical "pump and dump" trading style determines that the rebound elasticity after overselling will be more explosive.
From the daily chart structure, $SOL 's bottom is continuously rising. Previously it encountered resistance multiple times around 85, and after breaking through, resistance has converted into key support. Setting the stop loss at 84.9 is precisely to avoid the risk of false breakdowns. Currently, the 85 level has completed three retests for confirmation, and support effectiveness has been strengthened.
In the short term, resistance is targeted at 92. If it can break through effectively, upside space will further open up.
$SOL has shown significantly outperformance recently compared to $BTC and $ETH. I positioned long orders around 86 yesterday with a stop loss set at 84.9, and the current price level and directional analysis have both been validated.
Many investors are curious about the core logic behind SOL's strong rebound, which essentially stems from **oversold recovery**: In this bear market cycle, BTC has accumulated losses of 52%, $ETH is 64%, while SOL's decline reached 77%, approaching altcoin correction levels. However, its fundamentals have already entered the tier of mainstream public chains. SOL's typical "pump and dump" trading style determines that the rebound elasticity after overselling will be more explosive.
From the daily chart structure, $SOL 's bottom is continuously rising. Previously it encountered resistance multiple times around 85, and after breaking through, resistance has converted into key support. Setting the stop loss at 84.9 is precisely to avoid the risk of false breakdowns. Currently, the 85 level has completed three retests for confirmation, and support effectiveness has been strengthened.
In the short term, resistance is targeted at 92. If it can break through effectively, upside space will further open up.