Analysis of the crypto market on June 28 showed that Solana (SOL) has suffered severe suppression and may be in an ambush.

At present, there is a trend in the market to promote Ethereum Layer 2 (L2) and suppress Solana. In the next five years, L2's transaction throughput will reach 100 times Solana's current level. This expectation may trigger high attention and hype in the market, especially if an institution launches a financial product like SOLETF (Solana Exchange Traded Fund). The hype of SOLETF is intended to attract investors, but it may also enhance investors' optimism about Ethereum L2, thereby suppressing Solana's performance.

The market expects that the dealer will continue to accumulate Solana in the later period to prepare for future market actions. At the same time, the total locked value of all L2 protocols is currently about 42.86 billion US dollars, which shows investors' confidence in Ethereum L2 and may cause funds to flow out of other platforms (such as Solana) and turn to Ethereum L2.

At the same time, a new round of Ethereum hype is beginning, in line with the logic of analysts, especially the ETH ETF hype that is expected to appear in July.

On the technical side, according to the market analysis at the daily level, the market shows a large-scale downward trend, but a rebound is expected at the bottom. The important support level is around 61000, while the large-scale downward pressure is around 65000.

At the 4-hour level, the market shows a downward trend and is currently in a repair market. The upper resistance level is around 62500 and 63000, and the lower support level is around 60000.

For the intraday level analysis, a short-term oversold rebound and repair market are expected. The upper resistance level of concern is around 63000, and the extreme position is around 64000. Then it is necessary to observe the market's reaction after these levels. Near 61000 is regarded as an important bottom support.

Overall, the current market is difficult for this moment in the history of cryptocurrency, but it is recommended to remain calm and adopt appropriate strategies according to market fluctuations.

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