Last night, SOL experienced a rebound, but the strength was clearly insufficient, and then the price quickly dipped to the first support level before bouncing back. However, this rebound did not show strong momentum, and the market's long and short positions are in a stalemate.

Core Support Level Observation

Currently focusing on the key price level of 170.9. If the 1 - 2 hour candlestick can maintain above this point, even with a brief pullback, there is still a chance to continue the rebound trend; once the 4-hour closing price falls below 170.9, it means that the rebound in the 1 - 2 hour timeframe has ended, and bearish forces may dominate the market, pushing prices further down.

Distribution of Key Levels

Upside Pressure Level:

- First Resistance: 173.6, this area is crowded with trapped positions, which can easily trigger selling pressure and become the primary obstacle on the way up;

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- Mid-term Pressure: 178.3, as an important technical pressure level, requires strong buying power to break through;

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- Key Level: 181.7, if SOL price can effectively stabilize at this point, it is expected to open up new upward space.

Downward Support Level:

Once it falls below 170.9, the following support levels to watch are:

- Primary Support Level: 168.9, holding this position may temporarily ease the downward trend;

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- Secondary Support: 166.5, an important psychological level, is a potential buffer point during the downward process of the bears;

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- Strong Support Level: 164.3, if previous support levels are all lost, this point may become the last stronghold for both bulls and bears to fight over.

Summary

The short-term trend of SOL primarily depends on the critical level of 170.9. If the price stabilizes above this point, bulls still have a chance to challenge the resistance between 173.6 - 181.7; if it breaks down, one should be wary of the risk of breaking the support level in the 168.9 - 164.3 range. Due to the significant volatility in the cryptocurrency market, which is greatly influenced by news and capital flow, it is recommended to closely monitor market changes, strictly set stop-loss and take-profit levels, reasonably control positions, and flexibly adjust trading strategies based on technical analysis and fundamental information for rational market participation.$SOL #SOL走势