SOL Market Trend Analysis 20250508 - Day 599

The hourly trend is also following Bitcoin, and the daily chart remains in a consolidation phase with no clear direction, as if waiting for Bitcoin to choose a path.

The daily chart shows a small bullish candlestick in a doji pattern, with trading volume basically stable compared to previous days, showing slight signs of increased trading volume.

The daily MA30 line maintains a slow upward trend, and the MACD is showing a slight strengthening of bearish momentum near the zero line.

The 6-hour level has not yet crossed above the zero line, and the 12-hour MACD has not formed a golden cross. The 12-hour rebound is not yet effective; the short-term trend still mainly consists of narrow fluctuations. However, it should be noted that as long as either Bitcoin or Ethereum goes up, SOL will definitely follow suit. If the 12-hour rebound becomes effective, the price will continue towards 160-180.

Conversely, if Bitcoin declines, SOL will need to return to the 134-140 area for a pullback before rebounding upward.

The daily resistance levels are 160-172-183-204, and the support levels are 140-124-112-98-82.