Forwarding Mr. Chen: evening of October 8th

SOL faced significant pressure below 224.98 in the evening, and the upward momentum is temporarily suppressed; what needs attention is that during the price decline, a phase of chip exchange was completed around 217.20, indicating a clear tug-of-war between bulls and bears. Currently, the market shows a pattern of oscillation and consolidation. Based on the daily market behavior, it is highly likely to continue the range-bound fluctuation rhythm.

On the operational level, key focus can be on: the support zone at 218.32-217.20 below; if effective support is gained in this area, one can consider placing long positions; the initial target above is to look at the key resistance level of 224.98, and once an effective breakout is achieved, one can further look at the pressure around 227-230 #SOL .