The hourly trend is also synchronized with Bitcoin. After a decline at the hourly level, it has started to rebound, but the strength of the rebound is significantly weaker, and the upward pressure is relatively greater.
The daily line is a small bullish candle with a long upper shadow. The trading volume is about half of the previous day, which is roughly on par with the average daily trading volume of the past few days. This is a rebound trend after a rapid decline under normal trading volume.
The daily MA30 line has begun to turn downward, and the MACD has crossed below the zero line. In the next few days, it will follow Bitcoin in a fluctuation, waiting to choose a direction.
The trend of SOL is much weaker compared to Bitcoin. The price will still fluctuate in the red box area (120-180) over a large cycle. It is still worth buying spot at lows in preparation for the bull tail brought by the upcoming interest rate cuts.
This wide-ranging fluctuation process needs to continue at least until October before there is a chance for a change. Therefore, operations in the recent months should be to sell high and buy low.
Daily level resistance levels are 153-163-177-186-196, and support levels are 140-136-130-125-110.
From the liquidation heatmap data of SOL, it can be seen that
The price is rising, with a large number of large and ultra-large short positions waiting for liquidation in the 152.6-159.8 area.
The price is falling, with a large number of large long positions waiting for liquidation in the 146.6-139 area.
