Foreign media analysis suggests that after a rapid rebound from its June lows, SOL has once again surpassed the $100 mark. The price has recently risen to around $105, but selling pressure above that level has begun to emerge, ushering in a new observation period for its short-term trend.

Rebounded by about 45% from the June low point

The article mentions that SOL previously dipped to around $60.66 in June, then continued to recover, and has recorded a gain of about 45% in the past month. As the price has returned above the key moving average, market attention to its temporary recovery has significantly increased.

Currently, the area around $105 is considered an important short-term resistance level. If buying interest continues to support the price, there is a chance for it to rise further to the $110 to $115 range; if the upward attack fails, SOL may fall back to $100, or even below that support level.

MACD Weakness and divergence from moving average signals

From a technical signal perspective, the article suggests that there is a certain degree of divergence in the current trend. MACD indicates that the buying momentum has weakened, and there is a risk of a death cross forming in the market, which means that the short-term upward momentum may slow down.

But at the same time, the 50-day moving average and the 200-day moving average are closing in, and the market is watching to see if a "golden cross" will form. Such signals are generally seen as indications of an improvement in the medium-term trend, which also means that even if short-term fluctuations increase, as long as the price can hold above $100, the selling pressure may be gradually absorbed.

$100 support becomes a short-term focus

The article also mentions that SOL is currently trading around $104.5, which corresponds to a 0.5 Fibonacci retracement level. This level serves as a key observation point during the rebound process and may also become a position where resistance is encountered again.

In the coming days, market attention will be focused on two key levels: first, whether the support at $100 can continue to hold; second, whether the resistance above $105 can be effectively broken through. If buying pressure cannot continuously absorb selling pressure, the recovery trend following any recent breakthrough may temporarily come to a halt.