The hourly trend is still synchronized with Bitcoin, showing narrow fluctuations.
The daily chart also shows a doji candlestick pattern, with the trading volume decreasing by about one-fifth compared to the previous day. This marks the end of a series of bearish daily candles and a slight rebound.
This time, the price rebounded after falling to around 142. The price has formed rebounds after multiple tests of this level, but the strength of the rebounds is weakening. Therefore, the support at this level is also becoming weaker. If Bitcoin continues to decline, SOL will also drop to lower levels to find support. Each support level will see a rebound, so short-term long positions can be placed at the daily support levels.
The price is still fluctuating in a large range within the red box area, with the lower bound around 120 and the upper bound around 164, while the midline is around 142.
Daily resistance levels are 156-165-177, and support levels are 142-134-120-110.
From the liquidation heatmap of SOL, we can see
The price is rising, with a large number of large and extra-large short positions waiting for liquidation in the 147.6-157 area.
The price is falling, with a large number of large and extra-large long positions waiting for liquidation in the 142.6-138.6 area.
