Bitcoin is reaching new highs, while SOL seems to be quiet; in fact, it’s just not the time yet. As a favored asset of Wall Street capital, SOL will definitely not perform just so-so in the second half of the bull market. We must understand that a large number of unlocked tokens are waiting to be sold when the price rises. The current calm is merely the tranquility before the storm.
The daily level still maintains a volatile trend, the price remains above the daily MA30 line, trading volume remains stable, with signs of slow increase. The MACD is showing a weakening downward momentum above the zero line.
If Bitcoin consolidates at a high level, then SOL should make a compensatory rise, but the increase will not be too large, and it will still encounter considerable resistance in the 185-190 range, so this area will be a short-term take-profit position.
If Bitcoin drops back and brings SOL's price down, the area between 155-160 will be a short-term support level where a rebound can be taken. Further support will be near the neckline support at 144 and 123, where one can boldly enter for a medium-term layout.
Daily level resistance levels are 177-186-196-220-244, support levels are 158-154-142-124
From the liquidation heat map of SOL, we can see
the price is rising, with a large number of substantial short positions waiting for liquidation in the 176.2-179 area
the price is falling, with a large number of substantial and oversized long positions waiting for liquidation in the 165.8-154.8 area
