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November 17th SOL Market Analysis:
The trend of SOL has always been linked to the overall market. Since entering November, Bitcoin has been under continuous pressure and declining, which has transmitted this weak pattern to mainstream altcoins like SOL. Additionally, SOL itself has a strong speculative nature among retail investors, and with the current overall cryptocurrency market experiencing widespread panic, the mentality of retail investors is already fragile. If the market further deteriorates, it could likely trigger a concentrated exit.
Bitcoin has fallen below a key support level, and SOL is likely to continue to drop, potentially exacerbating the decline. At that time, it may be worth considering a bearish position in line with the trend. However, it is important to note that today's market may show a downward trend within a volatile range, with a relatively complex rhythm. Caution is advised, and the operational suggestion remains to focus on high leverage.
Tip:
Consider going short near the 145-140 range, targeting the 135-130 area.
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