SOL: A Comeback in Sight, Opportunities Hidden in the "Golden Pit"

Last night, Bitcoin and Ethereum surged strongly, while SOL, after reaching $94, weakened and pulled back. This led many to wonder: Is SOL about to be abandoned by the market? Don’t panic, this could very well be a “golden pit,” and a comeback is imminent!

From a macro perspective, the current environment is complex. The Federal Reserve’s Beige Book shows a cautious stance, with businesses uncertain about the future and hesitant to hire or stockpile. Meanwhile, tensions in Iran are high, and oil prices and inflation could spark volatility at any time. In this context, large funds seeking safety tend to flow into quality assets for risk hedging. SOL’s brief weakness is just normal capital rotation, not a trend reversal. Once macro sentiment eases slightly or Bitcoin stabilizes, SOL will likely become a key target for short-sellers and trapped funds.

On the technical side, the 2-hour chart reveals subtle clues. Last night, SOL surged to $94 and then quickly pulled back. Currently, it hovers near the critical $90 level. Although the upper shadow is intimidating, the volume during the pullback decreased significantly, indicating it’s not main force selling but retail panic and short-term profit-taking. This looks more like the main players testing selling pressure above, preparing for a subsequent rally. Looking at the BOLL indicator, the price broke below the UB but remains firmly above the middle band, confirming a typical breakout and retest pattern. Overall, SOL is following a “breakout - retest” structure. The $94 resistance is present, but the retest with decreased volume and staying above key levels and the middle band shows clear signs of a shakeout, reinforcing a solid bottom.

In terms of trading strategy, given the bullish technical pattern, a long bias is recommended. Conservative investors can buy gradually on dips around the $88–$90 support zone. The initial target is to see if the $94 resistance can be broken. Once it breaks, the next target could be $96 or higher, with a stop just below the BOLL middle band. Opportunities are always present in the market; staying calm and disciplined is the key to seizing them. $SOL