SOL follows the market's upward trend, but needs to break through key resistance to confirm the trend
Led by Bitcoin and Ethereum, SOL's daily line closed positively, but the trading volume remained basically flat compared to the previous trading day, with upward momentum significantly weaker than Ethereum, showing typical follow-up upward characteristics. Currently, the price is still within a consolidation range, with the daily MA30 moving average showing a slight downward trend, and the MACD slowly strengthening near the zero axis, indicating that the market is still in a consolidation phase.
In the short term, SOL's trend will continue to follow Bitcoin's fluctuations. Since the market has chosen to break upwards, it is expected that SOL will continue to test the resistance level near the upper range of the consolidation at $164. If the breakout is strong, it may further challenge the $180-$190 area, but it is necessary to dynamically assess the situation in conjunction with Bitcoin's trend.
Key Level Analysis
Upper Resistance: 163 / 175 / 186
Lower Support: 145 / 132 / 121 / 110
Currently, SOL has not formed an independent strong trend, and investors need to pay close attention to the breakout situation at the key resistance level of $164. It is recommended to maintain a cautiously optimistic attitude and increase position size only after clear breakout signals appear.
