The monthly chart shows a small bearish candlestick with a long lower shadow and a short upper shadow, and the trading volume is slightly less than last month, essentially remaining stable.
The monthly MA30 line is still in an upward trend, and the price retraced to the MA30 line in April. The MACD shows an increase in bearish momentum as it returns to the zero line above it, suggesting that the monthly adjustment will continue. Under normal circumstances, there should be at least two more months of adjustment time.
The daily chart shows a small bullish candlestick with long upper and lower shadows, and the trading volume is 1.8 times that of the previous day, indicating a slight increase in volume.
The daily MA30 line is still in a flat phase, and the MACD shows an increase in bullish momentum below the zero line. Therefore, the upward momentum has not ended; it is just encountering resistance.
After breaking through the daily MA30 line, the price has closed above the MA30 for two consecutive days. If it continues to stay above the line today, it can be preliminarily determined that the daily downtrend is over. The price decline is merely a retracement, and one can enter at the daily MA30 line. If it breaks below, short-term positions should stop loss and wait for a lower entry point.
So, after a short-term adjustment, SOL will have another surge, targeting the upper part of the red area, around 165. If it is strong, it could reach around 185.
Daily resistance levels are 165-185-200, and support levels are 145-132-120-110.
