The weekly line is a small bearish candlestick with a long lower shadow and a short upper shadow, and the trading volume is basically the same as the previous week, indicating a slight contraction.
The weekly MA30 line has shifted from flat to a downward trend, with the MACD showing a slow increase in momentum below the zero axis, which is continuously weakening.
In terms of trends, it is weaker compared to Bitcoin and Ethereum. The current price has returned to the oscillation area within the red box, so the weekly level adjustment will continue.
We have always talked about the large oscillation range of 120-180. Being able to return to 130-120-110 is a very good position for buying on dips. We are waiting for the end of the year, the last wave of the current bull market.
The daily line is currently in a three consecutive bullish pattern after four consecutive bearish candlesticks, with trading volume during the weekend being basically consistent, maintaining a state of contraction.
The daily MA30 line has turned from an upward trend to a downward trend, so any rise is merely a rebound, and the MACD below the zero axis shows a slow decline in momentum that is weakening.
The short-term trend still needs to watch Bitcoin; only if Bitcoin does not drop can SOL have a chance to rise. However, around 164 will still be an important resistance level for the rise, and when the price reaches here, a drop and retest will definitely occur.
The daily level trend has changed, and the price has also returned to the red box area, so making high sell and low buy to increase the number of coins will be a good operational strategy.
The daily level resistance levels are 155-163-177-186-196, and the support levels are 140-136-130-125-110.
From the liquidation heat map of SOL, we can see that
the price is rising, with a large number of significant and super large short positions waiting to be liquidated in the 155.2-157.4 range.
the price is falling, with a large number of significant and super large long positions waiting to be liquidated in the 148.6-141.8 range.
