#美7月PPI年率高于预期 2#Gate Alpha巅峰交易赛 8.15 Market Overview: SOL opening rise wedge

Since November last year, SOL has been following Bitcoin's surge, reaching a historical high of 290 in January this year; it is said that SOL will replace Ethereum as the second place; in the first half of the year, ETH remained sluggish, but starting from this month, while ETH has surged, SOL has remained weak and has not shown any strength, still holding the position of Ethereum as the second place, and now there are claims that SOL cannot compare to Ethereum; market sentiments change with the trend, when the market rises, you are the second place or even you are BTC, but without a price increase, you are nothing and are criticized everywhere.
The SOL short-term spot was entered at 175.09, thinking it could spike to 220, with a sell order at 219, but it retraced at 209; however, overall as long as it doesn't drop below 180, it's still a bullish trend; the spot position reduction remains near 220, and if it can regain above 203, there's hope for above 220; continue holding long positions.
SOL is forming an ascending wedge, with a large potential for price increase. There is an opportunity to enter a light long position on a pullback to 194.25, with a stop loss at 188 and targets at 203.12 and 208. Conversely, if it reaches 203.12, consider setting a light short position with a stop loss at 205.86 and targets at 196.81 and 192.94.
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