Weekly level: facing critical tests in a fluctuating upward trend

  • This week closed with a 25% increase on a bullish candle, with trading volume increasing by 33% compared to the previous week, which is roughly the same as the last two weeks, showing a mild increase in volume.

  • Technical indicators show: the weekly MA30 is flat, and the current price is testing this key resistance level (around 183)

  • The MACD indicator has formed a golden cross below the zero line, with downward momentum weakening and upward momentum increasing

  • Two possible trends:

    1. If the breakout fails: it may pull back to the 145-160 support area and undergo 2-3 weeks of consolidation

    2. If the breakout is successful: it may build a continuation platform in the 180-200 range, preparing for a push to 250

Daily level: short-term faces adjustment pressure

  • The daily line closed with a small bearish candle, and trading volume has decreased by 50% from its peak, which is a normal phenomenon due to reduced liquidity over the weekend.

  • The technical analysis shows: the daily MA30 maintains an upward trend, but the MACD shows signs of weakening upward momentum.

  • The current price is in a key resistance zone (where the weekly MA30 overlaps with the daily neckline), so beware of false breakout risks.

  • Smaller time frames show:

    • 12-hour and daily levels show weakening upward momentum

    • Although there is support at the 1-hour level, it needs to pull back to the 4-hour support level (161-167) to accumulate sufficient upward momentum.

Key price level reminder

  • Upper resistance levels: 183 (key) → 196 → 220

  • Lower support levels: 163 → 154 → 142 → 124

Operational strategy suggestion

  1. Short-term trading:

    • If testing the 183 resistance level fails, consider light short positions.

    • Pullback to the 167-161 support zone can set up long positions

  2. Medium-term layout:

    • After breaking above 183 and stabilizing, a pullback to around 180 can allow for gradual position building

    • If it pulls back to the 145-160 area, long positions can be gradually established

Currently, SOL is at a critical turning point. A breakout above 183 will open up upward space; otherwise, it will enter a phase of consolidation. Investors need to closely monitor changes in trading volume and the defense of key price levels.


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