SOL Price Trend Analysis 20250506 - Day 597

The daily line shows a small bullish candlestick, and the price has pulled back to the daily EMA52 line, forming a rebound at the hourly level. Overall, the hourly trend is following Bitcoin.

The daily level has seen over ten days of fluctuating downward movement, with a drop of less than 10%. This should have shaken out a group of people.

The daily MA30 line is still in an upward trend, so the short-term upward trend of the daily level has not changed. If Bitcoin drops next, it will lead to a drop in SOL prices, pulling back to the daily MA30 line (137.3). As long as it does not break below this line (short-term spikes do not count as breaking), it will be a very perfect trend.

The view remains the same as yesterday: the weekly level rebound has not ended, so the daily level fluctuations are normal adjustments. One can operate over an extended time period. SOL will experience a large-scale fluctuation in the big range of 120-180, and the operation should focus on larger waves, waiting for interest rate cuts, capital influx, and riding a wave of the main upward trend.

Daily level resistance levels are 160-172-183-204, and support levels are 137-124-112-98-82.