October 8th, early morning

The current price of SOL is 222.88, down 12.60 USDT, a decrease of 5.35%; the intraday high is 237.74, and the low is 221.27. The short-term decline is significant, and the bearish momentum is strong.

In the short term, there is a significant drop in trading volume, breaking below the middle band of the Bollinger Bands, with a large outflow of funds, indicating that the bearish forces are dominant.

If the middle band of the Bollinger Bands (around 230.71) cannot be quickly reclaimed later, there is a high probability of continuing the retracement trend; if it can stabilize at the lower band and rebound, there may be a temporary rebound, but one should be cautious of the possibility of continued pressure after the rebound. #SOL