Yesterday it was mentioned that there was a need for a pullback, but the depth of the pullback was not as large as expected. After pulling back to around 144 yesterday, it went up and did not return to the expected position of 140. The trend still appears somewhat strong.
On the daily level, it is still a small bullish candle slowly moving upwards. It seems that as long as Bitcoin doesn’t drop in the next few days, SOL will continue to rise and test the pressure around the upper edge of the red box, which is the 160-166 area.
At this position, it is still about reducing long positions in batches, rather than chasing the highs. Many people are worried about not being able to get in. If you look at the daily chart of SOL from April to September last year, you won't have such worries.
Daily level resistance at 160-172-183-204, support at 139-127-112-98-82.
From the SOL liquidation heat map data, we can see that
The price is rising, and there are a large number of large and extra-large short positions waiting to be liquidated in the 153.2-157.6 area.
The price is falling, and there are a large number of large and extra-large long positions waiting to be liquidated in the 148.6-136.8 area.
