Are friends playing $SOL always struggling with where it will hold when it drops? Where will it encounter resistance when it rises?
In fact, the support and resistance levels of SOL are never fixed; they can change with market movements. From a technical perspective, on the daily chart, the price has repeatedly bounced back when it fell into the $150-155 range, which can be considered a relatively stable support level. Every time it drops near this area, buying pressure noticeably increases, pushing the price up;
On the other hand, the $180-185 range is different; the price has attempted to break through this level several times but has never managed to hold it, clearly indicating it is a resistance level.
In the short term, looking at the hourly chart is more flexible, and support and resistance levels change more quickly. For example, the position of the 50-hour moving average is crucial recently. If the price is above the moving average, it acts as support, and if below, it becomes resistance. This is a reference I often use when monitoring short-term trends.
Additionally, the impact of news cannot be ignored. I've observed that if a project has positive news, such as partnerships or technological upgrades, previous resistance levels may be more easily breached;
However, if there is negative news, such as regulatory issues or technical vulnerabilities, the original support levels may not hold.
Personally, I believe that in the near future, the short-term trend of SOL should focus on the strength of the support level of the hourly moving average, and it is also necessary to consider market adjustments for making judgments!
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