2026-02-06 03:24:31

$SOL Do not blindly buy the dip ‌

• Price: approximately $78.2, intraday low of $77.5, 24H decline of 13.8%, weekly decline of 25.5%.

• Status: Extremely bearish, breaking through key levels at 90, 85, 80, with weak rebounds.

• Market Sentiment: Fear Index at 12 (Extreme Fear), 24-hour liquidation clusters, concentrated forced liquidations.

II. Drivers and Technical Analysis

• Core Trigger: US Treasury Secretary's statement of not intervening in the market, combined with heavy declines in US stocks/precious metals, sharply reduced risk appetite, and intensified leverage liquidations.

• Technical Pattern: Daily candles showing consecutive declines, far from moving averages; 4H downtrend channel, RSI oversold but lacking volume support, indicating a continuation of the downtrend rather than a reversal.

• Support/Resistance: Short-term support at $75-78, strong support at $70; resistance at $85, $90, $95, with rebounds likely to face selling pressure.

SOL-10.81%

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