The daily candlestick is a long bullish candle with a volume that is basically consistent with the previous day, slightly more than that. The bullish candlestick engulfs the bearish candlestick from the previous day, indicating a relatively strong rebound trend.
After the price dropped back to the vicinity of the daily EMA52 line, a good rebound was formed. Currently, Bitcoin has not adjusted properly, so if Bitcoin continues to decline, SOL will definitely follow suit.
If Bitcoin remains in a sideways adjustment, then SOL will continue to push upwards after a brief adjustment, with a target in the 190-200 range.
The 200 integer level has been tested multiple times without stabilizing effectively, so it will not reach that position in the short term.
Currently, it is still a rebound, and after the rebound, there will still be a decline to retest deeper levels.
The strong support level is still near the daily MA120 line, which is also the upper edge of the red box.
The daily level resistance levels are 197-213-237-250, and the support levels are 174-164-156-145-136.
