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Recently, SOL has experienced a significant rise and is currently entering a short-term adjustment phase. This price increase is mainly influenced by the market trends of ETH and is not a result of SOL's independent market performance. The price correction over the past two days is a normal technical pullback in the market and is also a necessary process to digest the previous gains.
The important price level currently being focused on by the market is around $178. This level is not only the previous breakout platform but also a short-term support conversion area. For investors, if the price falls back to around $178 for the first time, they may consider establishing a small long position.
It is worth noting that if ETH continues to remain strong in the future, SOL is likely to follow with a second wave of increases, potentially pushing the price toward the target of 220 dollars. However, investors should cautiously assess risks, closely monitor market changes, and make rational investment decisions.
In the current market environment, altcoins may experience a wave of upward trends. However, investors need to remain vigilant, as the cryptocurrency market is highly volatile and market conditions can change rapidly. It is recommended that investors fully understand the market situation and conduct a comprehensive risk assessment before making any investment decisions.