#SOL has reached the initial expected target!
Like BTC, whether SOL has already reached a local peak here needs time to determine; currently, it is just the first encounter with resistance and consolidation phase.
It cannot be clearly stated that a top will definitely form here, but time is needed to observe whether the trend can build a top pattern or characteristics.
Of course, taking action to reduce positions and take profits on the left side here is also reasonable.
🔍Continuing the previous connection, "SOL's bear market has shown the momentum of a bull market"❓
The quote below is from my tweet in October 2023 regarding SOL. Against the backdrop of almost the entire network being pessimistic about SOL, I concluded through technical analysis that the strongest asset in the entire market was about to be born! The future is promising!
Similarly, now in July 2025, nearly two years later, we encounter the same structural pattern again, but the structure has not yet matured.
This structure is an ultimate bottoming pattern on the daily chart, but it needs to meet many conditions; currently, it is only in the embryonic stage of the bottoming pattern.
The core lies at the end of the triangle convergence, where the trend of gradually raising the bottom cannot be broken. If the lower boundary is breached, it will lead to a major top formation crisis, potentially entering a prolonged downtrend.
Let me ring the bell for everyone, focusing on the subsequent development of the structure. If there are specific and clear viewpoints, I will share them again at that time.
You can bookmark this tweet🔖 to save it, and I will update in the comments below when the time comes.
10.43K
8
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.