$SOL looks quite fierce. It has risen more than 9%, standing above 86.

From a technical perspective, the EMA7 has crossed above the EMA25 and EMA99, which is a pretty clear signal. ACD has also turned bullish. However, I think there is an issue here.

PayPal has integrated SOL, and institutions are increasing their positions, so the fundamentals are indeed good. DeFi has locked up 6.7 billion USD, with stablecoins inflowing 14.6 billion. The data looks quite impressive.

But if you look at Galaxy Digital, they just transferred 200,000 SOL to the exchange. That's a volume of 16 million USD.

More critically, SOL has dropped from 300 to now over 80. It has fallen more than 70%. The listed company Upexi holds 2.17 million SOL and has lost 179 million USD.

I think the current position is quite awkward. Technically it looks like it should break through, but the selling pressure is still there. 87.33 is a key resistance level; whether it can hold is very important.

If it breaks below the support at 84, it should quickly head towards around 78. That might be a good entry point.

Currently, the RSI is about to become overbought, and the trading volume has decreased by more than 40%. This kind of shrinking volume after a surge is usually not a good signal.

Strategy One: [Range - Sell High]

Entry Area: Short near 87.4 USDT

Stop Loss Price: 88.5 USDT

Target Area: 86.5 USDT

Strategy Two: [Range - Buy Low]

Entry Area: Long near 85.19 USDT

Stop Loss Price: 84.5 USDT

Target Area: 86.5 USDT$SOL