The weekly line is a bullish candle with a 25% increase, and trading volume is one-third more than last week, remaining basically flat compared to the previous two weeks. There has been no significant increase in volume, which is within the normal range. The weekly MA30 line is maintaining a flat trend, and the MACD is at the zero axis.
The weekly line is a bullish candle with a 25% increase, and trading volume is one-third more than last week, remaining basically flat compared to the previous two weeks. There has been no significant increase in volume, which is within the normal range.
The weekly MA30 line is maintaining a flat trend, and the MACD shows a transition from weakened downward momentum to strengthened upward momentum, with the fast and slow lines showing a golden cross trend.
After five weeks of oscillation upwards at the weekly level, it has now reached the resistance level near the weekly MA30 line. The price will continue to push up here; if it cannot break through the MA30 line's resistance, it will need to pull back and retest, with the pullback position in the red box area, followed by two to three weeks of oscillation, gathering strength before continuing to push up.
If it breaks through and stays above the MA30 line, it will oscillate between 180-200, creating a continuation upward platform before pushing up again. Once it stabilizes above 200, the weekly level can continue to push towards 250.
The daily line is a small bearish line, with trading volume basically flat compared to the previous day, which is half of what it was a few days ago. Liquidity is poor on weekends, and trading volume is relatively low.
The daily MA30 line still maintains an upward trend, so the upward trend at the daily level is still present. The MACD shows weakened upward momentum above the zero axis.
The price is currently consolidating at a high level, and the weekly bullish candle will drive the price up to the 184-190 area.
The price has now reached near the weekly MA30 line, which is also near the neckline of the upward trend at the daily level, creating significant pressure. Therefore, one must be cautious of a false breakout followed by a downward correction.
The recent rise of SOL is driven by both the 12-hour and daily lines, both of which are currently showing weakened upward momentum. The smaller hourly level has pulled back to the 1-hour support level, but the 1-hour is not enough to support the price for significant upward movement. A further decline to retest the 2-hour-4-hour support is needed for greater upward momentum (167-161).
Daily level resistance is at 183-196-220, and support is at 163-154-142-124.
From SOL's liquidation heat map, a large number of oversized long positions are waiting for liquidation below.
The price is rising, with a large number of significant short positions waiting for liquidation in the 175.8-183.4 area.
The price is falling, with a large number of significant and oversized long positions waiting for liquidation in the 169-159 area, with a key liquidation position at 169-164.
