Solana has now fallen to 124 dollars. Looking at the market data, the short positions this wave are really fierce.

Several signals on the technical level have aligned: MA and EMA have shown a short positions stance, and the death cross has met the evening star, which is generally not a good omen. The price is approaching the key support level of 120.89, and if it cannot hold, the space below may open up directly.

Looking at the timeline - on the 2-hour level, it fell from the high of 127.12 all the way down to 124.35, continuously closing in the red, with short positions holding the initiative. The daily chart is even more direct, with a significant drop directly breaking through the previous support at 133. The MACD on the 2-hour chart shows that the bearish momentum is still expanding. All EMA short, medium, and long-term periods are bearish, and the trend is very clear.

At this position, the logic of continuing to short positions is still valid.

Here is a reference range for everyone:
If you are bullish, you can try around 120, add positions at 115, set a stop loss below 112, and the target is to first see if it can return to 130.
Bearish outlook, can enter above 130, add positions at 135, stop loss at 138, target directly at 120.

This data and judgment are based on the current market trends and do not constitute any investment advice. The market changes rapidly, so please remember to control your positions and avoid going all in.