SOL Market Trend Analysis 20250518

The daily level is showing a downward trend with fluctuations. Currently, the speed of decline and pullback is relatively fast, which means the adjustment speed is quicker than that of Ethereum and Bitcoin. In this recent increase, SOL's performance can only be considered adequate, without showing any strong momentum; it appears somewhat conservative.

Yesterday, after the price fell to the upper edge of the red box, it formed a rebound at the hourly level. Currently, the rebound seems a bit weak. If Bitcoin continues to decline and pull back, SOL will likely continue to fall as well. The daily MA120 line will be a recent support around the price of 160.

The daily MA30 line continues to maintain an upward trend and is slowly approaching the MA120 line. When the two moving averages converge, it will create stronger support. The 144-150 area is a good position for a potential entry.

The weekly level shows a small bearish candle resembling a doji star. The MACD is near a golden cross below the zero line. The rebound at the weekly level has just begun, and all declines present buying opportunities.

Daily level resistance is at 186-196-220-244, and support is at 161-154-142-124.