[Key Trend Review]
The recent movements of SOL have been highly correlated with BTC and ETH. The daily chart shows a long upper and lower shadow doji pattern, with trading volume doubling compared to the previous day, indicating intense competition between bulls and bears. After breaking through the daily MA120 moving average and the previous key resistance area (red box), it is currently in the pullback confirmation phase.
[Technical Analysis]
Daily level
Trend structure: MA30 maintains an upward trend, and the overall upward trend remains unchanged, but MACD indicates weakening upward momentum, making short-term adjustments necessary.
Key support:
Around 163 (upper edge of red box + pullback at the breakout point), the first touch may trigger a rebound;
154-150 area (MA30 moving average), if the pullback is deeper, this area serves as a medium-term bullish defense line.
Resistance level: 183 (previous high) → 196 → 220 (historical resistance zone).
Short cycle (2-8 hours)
After rebounding at the 2-hour support level in the early morning, the 4/8 hour level (154-150) can still set up short-term long positions, with a stop loss set below 142.
If BTC declines further, SOL may simultaneously test the 150 support, but it is expected to mainly experience a consolidating decline rather than a one-sided crash.
[Trading Strategy]
Short-term: Light positions around 163 for long, target 173-183; if it drops to the 154-150 area, additional positions can be added, with a stop loss at 142.
Medium-term: Hold positions above 150 and wait for an increase; if it breaks below 142 with increased volume, be cautious of the risk of a deep pullback to 124.
[Key Price Levels]
Resistance levels: 183 → 196 → 220
Support levels: 163 → 154 → 142 → 124
Summary: The SOL pullback is a normal correction in the trend, with the 163-150 range being an important defense line for bulls. Strict risk control is necessary when buying on dips.
