The weekly line is a small bearish candle in the form of a doji, with trading volume reduced by more than a third compared to the previous week, indicating an oscillating trend.
The price has rebounded from the weekly MA120 line for three consecutive weeks back to the vicinity of the weekly EMA52 line, where the original support level has turned into a resistance level, causing the price to stagnate under pressure.
The weekly level rebound has not yet ended. After a short-term adjustment, it will continue to rebound and rise, currently waiting for Bitcoin to adjust.
From the chart, we can see that the price is still oscillating within the red box, and pulling back to the middle line of the red box (140) and the bottom area (120) are both very good buying positions.
The weekly MA30 line is currently flat, and the MACD shows a weakening downward momentum near the zero axis. In the next two weeks, as long as a relatively long bullish candle is formed, the MACD will create a golden cross, and the upward momentum will become stronger, which will drive the price to continue rising.
The target position for the weekly level rise will first be near the MA30 line, which is around 180.
The daily line shows a small bearish candle, the price continues to maintain a downward trend, and currently, the daily line has formed three consecutive bearish candles. The trading volume has not significantly increased, so there is no need to rush to catch the bottom in this oscillating downward trend. It is best to wait for a quick drop at the hourly level and then buy long when a pin bar appears.
The daily MA30 line maintains an upward trend and will be an important support in the near term, with the price around 136.
The daily MACD is not far above the zero axis, switching from weakening upward momentum to strengthening downward momentum, just completing a daily level downward pullback trend.
Currently, SOL is completing a downward pullback trend to the daily MA30 line within the daily level upward trend. As long as it does not fall below this line (short-term pin bar does not count as a breakdown), it will be a very perfect trend.
The weekly level rebound has not yet ended, so the daily level oscillation is a normal adjustment. You can operate with a longer time frame.
We have always said that SOL will oscillate in the large range of 120-180, so just focus on making large swings in operations, waiting for interest rate cuts, capital inflows, and riding a wave of main rising trends.
Daily level resistance is at 160-172-183-204, and support is at 135-124-112-98-82.
From the SOL liquidation heat map, we can see
The price is rising, and there are still a large number of big and super large short positions waiting for liquidation in the 148-156 area.
The price is falling, and there are still a large number of big and super large long positions waiting for liquidation in the 142.8-139.8 area.
