📉 2026-02-23 SOL Technical Overview (Intraday Drop, Bearish Dominance)

Current Price: approximately 75 USDT (intraday decline over 7%, leading the mainstream coins)
Market Sentiment: Fear & Greed Index 6 (Extreme Fear), concentrated liquidations on long positions

1. Key Price Levels (Core)

- Resistance Levels: 78 → 80 → 83-84 (78 is the first strong rebound resistance, 83-84 is a key 4-hour level resistance)
- Support Levels: 73 → 70 (strong support) → 68 (70 is a recent important psychological and technical threshold)

2. Technical Patterns and Signals

- 4-hour Level: Large bearish break, moving averages in a bearish alignment, rebound with no volume, heavy selling pressure.
- Daily Level: Broke below key support, clear downtrend, no obvious signs of bottoming.
- Volume and Sentiment: Increasing volume on decline, total liquidation amount over $470 million, clear long squeeze.
- Indicators: Short-term RSI enters oversold territory, but extreme sentiment may sustain overselling, not a basis for bottom fishing.

3. Short-term Strategy (For Reference Only, Not Investment Advice)

1. Primarily Shorting (Follow the trend, higher success rate)

- Entry: Short on rebound pressure in the 78-80 range
- Stop Loss: Above 81.5
- Take Profit: First target 75; second target 73; strong break below to watch 70

2. Oversold Rebound Play (Strictly quick in and out, small positions)

- Entry: Stabilization at 73-74 or clear signs of stopping decline (e.g., long lower shadow candles)
- Stop Loss: Below 72
- Take Profit: 77-78 (Never hold on to losses, run at resistance)

4. Trading Discipline (Must Read)

- Do not over-leverage, do not bottom fish, do not hold large positions; current decline is driven by sentiment, not technical correction.
- If 73 is effectively broken, go short directly to 70, no long positions allowed.
- Strictly set stop losses; SOL is volatile, keep risk per trade within 1%.