SOL Market Trend Analysis 20250520

The hourly trend is also following Bitcoin, without forming an independent trend.

The daily candlestick is a bearish candle with a long lower shadow, and the trading volume is slightly higher than the previous day, but basically remains flat.

The daily chart has rebounded after testing the MA120 line, and the next point of support is the daily MA30 line. Currently, the downward movement is quick, and the rebounds are also fast, indicating high volatility, while the daily level is still in a downward oscillation trend, with no obvious momentum for continued upward movement.

The daily MA30 line maintains an upward trend, and the MACD shows an increase in bearish momentum not far above the zero axis, suggesting that adjustments at the daily level will continue.

The best scenario is to continue the downward oscillation, returning to the daily EMA52 line support (153.6), and then waiting for the MACD to return near the zero axis before continuing to rebound and rise.

Daily level resistance levels are 177-186-196-220-244, and support levels are 158-154-142-124.