The trend is basically in sync with Bitcoin. After the price dropped and touched the daily MA120 line, it formed a weak rebound at the hourly level. How Bitcoin moves next will determine how SOL moves as well.
Currently, the price has returned to the red zone, which we have mentioned many times before. This is a wide fluctuation range at the daily level of the larger cycle, and last year SOL fluctuated up and down several times in this area (120-180).
The main force is currently inactive, basically in a state of going with the flow, so large range fluctuation operations can be performed.
Daily level resistance at 165-177-186-196, support at 146-136-130-125-110.
From SOL's liquidation heatmap, it can be seen that
The price is rising, with a large number of significant and oversized short positions waiting for liquidation in the 158.2-179 area.
The price is falling, with a large number of significant long positions waiting for liquidation in the 154-147.4 area.
