The hourly trend is moving in sync with Bitcoin, but is relatively much weaker, showing a continuous downward trend with fluctuations.
As mentioned yesterday, after the price touched the daily MA30 line, there was a bounce, but the strength of the rebound depends on Bitcoin; when Bitcoin falls, SOL follows suit. The daily MA30 line has not formed strong and effective support, and after the price broke below the MA30 line and the daily EMA52 line, it continued to seek support from the daily MA120 line.
Currently, the price is stable near the daily MA120 line, which will serve as strong short-term support, and there will be a decent rebound, provided that Bitcoin does not continue to fall.
The height of the rebound can be seen near the daily MA30 line, which is also the upper edge of the red box area (163-166). When it reaches here, the price still needs to fall back for a retest.
Daily level resistance levels are 165-177-186-196, and support levels are 163-143-130-124.
From the liquidation heatmap data of SOL, it can be seen that
the price is rising, with a large number of large and extra-large short positions waiting for liquidation in the 161.2-181 range.
the price is falling, with some large long positions still waiting for liquidation in the 154-150.6 range.
