February 7th, 11:00 (UTC+8), SOL current price is approximately $189, with a 24-hour deep V rebound, ranging from a low of $168 to a high of $195, about a 16% rebound, indicating oversold correction rather than trend reversal.

1. Core Technical Analysis (4-hour / Daily Chart)

- Pattern: Daily long lower shadow deep V, 4-hour rebound correction, weekly chart still in a downtrend channel, mid-term trend unchanged.
- Moving Averages: 24-hour MA around $180 as short-term bullish/bearish dividing line; Daily MA5/MA10 death cross, with clear resistance at MA20/MA30.
- Indicators: RSI(14) has recovered from oversold to around 45; 4-hour MACD bearish momentum waning, double lines turning; volume increased during rebound, caution for volume shrinking and pullback.
- Key Levels: Strong support at $170 (today’s low), invalidating rebound if broken; first resistance at $180 (24-hour MA), second resistance at $195 (today’s high, potential for breakout and strengthening).

2. Actionable Strategies

- Long Positions: Hold above $180 with volume increase, funding rate turning positive, try small long positions (≤30%), stop loss at $168; if breaking $195 with volume, add to 50%, target $205.
- Short Positions: Encounter resistance and volume shrinkage at $192-$195 during rebound, try small short positions, stop loss at $198, target $180.
- Wait-and-See: Break below $170 with liquidation and rebound, volume shrinking, reduce positions or wait, avoid risks of failed rebound.

3. Risks and Key Signals

- Risks: High liquidation in the past 24 hours across the network, institutions deleveraging may cause secondary selling pressure, mid-term trend remains unchanged.
- Confirmation Signals: ETF net inflow exceeding $50 million, liquidation events decreasing, USDT premium >0.3%, combined with volume increase and stabilization at resistance levels, strengthening bullish confidence.

Conclusion: In the short term, it’s an oversold rebound and correction after leverage clearing, not a trend reversal. Trading should focus on key levels, volume, and capital flow, with strict position control and stop-loss. Prioritize quick in-and-out trades, and wait for weekly chart stabilization signals in the mid-term.