SOL's recent trend has already sounded the alarm. From a technical perspective, this wave of gains shows clear signs of main capital manipulation—initially accumulating at high levels to push prices up, then quickly distributing to escape. Data indicates a large fund anomaly signal appeared on the evening of the 29th, and overnight there was a direct plunge with heavy selling. After a series of false signals, the trend suddenly reversed, with the long-short liquidation ratio once approaching an extreme level of 60:1.

Looking at the price structure, $124 has become a short-term resistance level, tested multiple times without effective breakthrough. Currently, the price has fallen below the short-term moving averages, indicating a complete technical breakdown, with severely insufficient rebound momentum. The candlestick pattern shows a straight decline from 120.00 down to the 112.50 range, exhibiting a free-fall trend overall. The short-term moving averages are now converged, lacking directional support.

On the trading front, market participants' sentiment has been thoroughly exhausted. Bullish confidence is gradually eroding amid repeated trap attempts, and leverage liquidations are frequent, which often signals a trend reversal. In this context, any rebound should be viewed as an opportunity to exit rather than an entry signal.

From a probabilistic standpoint, the risk-reward ratio of short positions is more attractive. The current price still has room to decline further, with technical supports being broken one by one, and declining volume confirms decreasing market participation. For traders, following the trend is much more rational than bottom-fishing.

Overall, SOL lacks the technical foundation for a short-term rebound. Exercise caution by avoiding high-level entries and wait for clearer signs of a bottom before considering participation. The market will always present the next opportunity; there's no need to rush.