The weekly line is a small bullish candle in a doji star pattern, with trading volume roughly the same as the previous week, indicating normal trading volume.
The price rebound faced resistance from the weekly MA30 line, resulting in a downward adjustment, which is a normal trend.
The weekly MA30 line is trending flat, and the MACD shows enhanced upward momentum close to the zero axis, indicating that the rebound at the weekly level has not yet ended.
It is necessary to break through the resistance of the weekly MA30 line, and the price must stabilize above the MA30 line to further open up upward space.
In the coming weeks, we still need to observe how Bitcoin performs; as long as the decline and adjustment in Bitcoin are not too large, SOL will have a rallying trend. After slight oscillation at the weekly level, it will attempt to break through the resistance of the MA30 line.
The short-term target for the upward movement at the weekly level is $200. If it stabilizes at this key integer level, it can continue to push towards $240; we will observe as we go.
The daily line is a bullish candle with a long upper shadow and a short lower shadow, and the trading volume increased by one-third compared to the previous day, remaining within the normal trading volume range.
After a continuous oscillating decline and a four-day bearish trend, the daily line was broken by yesterday's bullish candle, with the price just bouncing back to the upper edge of the red box; this is merely a rebound during the downtrend, and further decline and adjustment are still needed.
We previously mentioned that SOL would undergo a large range oscillation in the 120-180 area, requiring at least two large range oscillations, partly for washing out weak hands and partly for solidifying the foundation.
The daily MA30 line maintains an upward trend, indicating that the daily level remains in an uptrend, while the MACD shows an enhanced downward momentum slightly above the zero axis.
The first support level at the daily level remains at the upper edge of the red area, which is the 160-164 range, and the second support will be near the daily MA30 line, which is in the 153-157 range; both of these areas are buying positions.
Daily level resistance at 177-186-196-220-244, support at 161-154-142-124.
From SOL's liquidation heatmap, we can see
The price is rising, with a large number of significant short positions waiting for liquidation in the 175-180 range.
The price is falling, with a large number of significant and very large long positions waiting for liquidation in the 164.2-158.8 range.
