The decline under the SOL dispute is basically synchronized with Bitcoin and Ethereum, showing obvious weakness, and the small-level volume drop is also quite straightforward.
It is obvious to see the flow of funds between sectors; the withdrawal of liquidity will only cause altcoins to drop more sharply than Bitcoin.
After the small level follows the drop of 157, which is the support level on the daily chart, a stop-loss finally appeared. However, the bearish volume has not been fully released. A rebound with decreased volume cannot bring the price to a higher level.
Observe the performance upon re-testing the support around 157. The current position shows a relatively weak rebound, and small-level short positions require quick profit-taking. After all, during the decline from a high position, a considerable increase in short positions and residual long positions without stop-loss has accumulated. Near the support level on a larger scale, a clear contest between bulls and bears will occur. It is not a time to be aggressive for either long or short positions.
Upper pressure: 167/170/176.7/183.5
Lower support: 157.7/153.3/149.5