The elder brother leads the way, SOL is also dropping smoothly. The price is currently near the midpoint of the oscillation area in the red box, which is also the neckline. Therefore, there is support here, and a rebound will occur, but the height of the rebound will not be too high. For now, we can see around 153, and if it is strong, it can reach around 163.
The daily MACD has crossed below the zero line, and the price is running below the daily EMA52 line. Therefore, after a short-term rebound, it will follow Bitcoin in a daily-level oscillation and then undergo a secondary daily-level decline to explore the bottom.
We have been saying that SOL will undergo a wide oscillation between 120-180 at the daily level. This process will need to last at least until October before there is a chance for change. Therefore, for the operations in the past few months, high selling and low buying will suffice.
Daily level resistance levels are 153-163-177-186-196, support levels are 140-136-130-125-110.
From SOL's liquidation heat map, it can be seen that
The price is rising, and there are some large short orders waiting for liquidation in the 145-152 area, and a large number of large and ultra-large short orders waiting for liquidation in the 154-167 area.
The price is falling, and there are still some large long orders waiting for liquidation in the 143.6-137.6 area.
