SOL Market Trend Analysis 20250524

Yesterday mentioned that it was going to rise to the 185-190 area, it actually peaked at 187.71 before sharply dropping (Binance spot). On one hand, it was affected by Bitcoin, but to a greater extent, it was suppressed by the neckline level, which also caused strong upward pressure due to the dense accumulation zone.

This rise was driven by 12-hour momentum, and a top divergence pattern has now appeared, so a drop to find support before rebounding is expected. The price has currently dropped to around the 6-hour EMA52, which is not a strong support level; although a rebound is possible, it won't be significant.

The 12-hour support is around 164, where a rebound is also possible, making it a point to consider a short-term long position.

On the daily level, a short-term adjustment is required, and it won't directly rise again; therefore, consider going long only at the support level, without participation in between.

157 will be a strong short-term support level, where a rebound can be taken. Further down, the support will be around the neckline support at 144 and 123, where one can confidently enter for a medium-term layout.

Daily level resistance levels are 186-196-220-244, with support levels at 157-144-124.