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#数字货币市场调整 SOL today's morning outlook: the bears are dominant, shorting on rallies.
To conclude, the range of 141-145 can be considered for shorting, aiming for around 135.
Why is this judgment made? On the daily chart, both MA and EMA have already formed a death cross, and the price is being double-pressured by short-term and long-term moving averages, with obvious downward pressure. Although the bearish strength on the 2-hour MACD is weakening, the bullish volume is unable to rise at all, making it difficult for this slight rebound to reverse the larger bearish trend.
In simple terms, the entire crypto market is currently in a weak state. $SOL doesn't have any independent catalysts for its market performance and has to follow the technology sector of the US stock market, which is compounded by the tightening liquidity environment. Once the dead cross signal is confirmed, the subsequent rebounds will basically be opportunities for shorting.
Risk control must be done well, do not chase the high in this kind of market.