6.30 SOL Analysis

After SOL surged to 76.02 in the one-hour cycle, it formed a double top price pattern, with the candlestick showing a long upper shadow, which fully indicates strong selling pressure above. The market has shown a short-term breakdown bearish signal, and the previous round of upward trend has come to a halt.

The range from 72.5 to 74 is a consolidation zone where both bulls and bears are wrestling. Meanwhile, 71 to 72.5 is the core support zone for this upward trend and also the key defense line for the bulls. As long as this support zone is not effectively broken, the current pullback is just a normal correction within the uptrend, and the overall upward channel remains intact.

In the short term, if it rebounds to around 74-75, go short with a downside target at the 72.5 support level;

In the medium term, if it pulls back to around 71-72.5, go long, with subsequent rebound targets at 75 and 80 respectively $SOL