The weekly line is a bearish candle with a long body and short upper and lower shadows. The trading volume is the same as last week, with no significant decline.
The weekly MA30 line shows a clear downtrend, and the MACD exhibits weakening bullish momentum just below the zero axis.
At the weekly level, it is quite clear that after the rebound of the previous weeks reached the weekly MA30 line, it could not break through, and the price has been moving in a downward oscillating trend. The current price is getting closer to the lower edge of the red box (120), which will be a relatively good buying position in the short term, and the weekly MA120 line is also near the lower edge of the red box (115), forming a double support.
The weekly level will oscillate at the lower edge of the red box for one to two weeks before continuing to rebound. Note that this is a rebound, not a reversal.
The large cycle oscillation in the 120-180 area will continue.
The daily line is a bearish candle with a short upper shadow and a long lower shadow. The trading volume is slightly higher than the average trading volume of the previous two days, but still within the normal range.
The daily MA30 line shows a clear downtrend, and the MACD exhibits increasing bearish momentum just below the zero axis, so the rises are corrections rather than reversals.
The daily level currently has a pattern of three consecutive bearish candles, and the bearish momentum has not been fully released. After a rebound at the hourly level, it will transition to a daily level of oscillating rebound, followed by further declines to test the lows.
The daily level still relies on Bitcoin's performance; as long as Bitcoin declines, SOL will definitely decline as well.
The rebound height can be seen in the 140-150 area. Remember to take profits in time for short-term bottom-fishing long positions.
The daily level resistance levels are 142-153-165-177, and the support levels are 121-112-96-79.
From SOL's liquidation heatmap,
the price is rising, with a large number of significant short positions waiting for liquidation in the 132.6-135.6 area, and a large number of significant and super large short positions waiting for liquidation in the 136.4-150.6 area.
the price is falling, with a large number of significant long positions waiting for liquidation in the 125.6-122.4 area.
