7.17 Morning SOL Analysis

Analysis: Lightly short around 76.80, target 75.30-74.87

Yesterday, the 77.59 high short order didn’t get placed. Wait for a mild rebound to push higher, then build shorts in batches. For long positions, wait for a pullback to the 74.87 low to enter again. Set a stop-loss at 74.40; rebound targets look at 76.50-77.60. After SOL surged to 79.01 and topped, it has been ranging and then steadily falling. The current price is 75.05. On the 1-hour timeframe, the moving averages keep sloping downward, forming bearish pressure; every time price rebounds slightly and touches the moving averages, it gets pressured and closes red. In the short term, the market has fully entered a pullback and downswing rhythm. 74.87 is the swing low of this round of decline and is the only key support for short-term bulls: if price holds above this level, the short-term downward momentum will exhaust and trigger a corrective rebound, with a renewed attempt at testing resistance above 76. But once the body breaks below 74.87, with no dense trading support underneath, the shorts will open up room to the downside.

In recent days, overall market risk-averse sentiment has been heating up. Major coins move in tandem and weaken; funds concentrate to realize profits and exit. As a small-cap token, SOL’s sell pressure is further amplified. Each round of mild rebounds lacks incremental buying to step in and absorb sells—short-term dip-buying only briefly props it up, with very weak rebound strength and poor upside follow-through. Overall, the bearish side has the upper hand.

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