Yesterday, it was said that we should push into the 185-190 area, and it actually peaked at 187.71 before sharply dropping (Binance spot). One reason is the influence of Bitcoin, but more significantly, it is being suppressed by the neckline level, which is also a dense area of positions causing significant upward pressure.
This wave of increase is driven by the momentum at the 12-hour level, and a top divergence pattern has already appeared. Therefore, it will drop back to seek support before rebounding. The price has currently dropped to around the 6-hour EMA52, which is not a strong support level. Although there is a rebound, the height won't be too high.
The 12-hour support is around 164, and there is also a rebound here, so a short-term long position can be taken.
The daily level needs to adjust in the short term and will not directly rise again, so consider going long only when it reaches the support level. Do not participate in between.
157 will be a strong support level in the short term, where a rebound can be taken. Further down, the support will be the neckline support around 144 and 123, where one can confidently enter for a medium-term layout.
Daily level resistance at 186-196-220-244, support at 157-144-124.
From SOL's liquidation heat map, it can be seen that
The price is rising, and there are still a large number of sizable short positions waiting to be liquidated in the 183.4-191 area.
The price is falling, and there are a large number of sizable and oversized long positions waiting to be liquidated in the 172.2-167 area and the 165.6-161 area.
