The daily chart of SOL still maintains its own rhythm, following Bitcoin's rise and fall during the day at the hourly level, and starting to fall ahead of Bitcoin around 6 PM, then rebounding with Bitcoin in the early morning. The daily chart shows a small bearish candlestick with a doji pattern; currently, the daily chart has formed four consecutive bearish candles, but there is no significant volume, maintaining a trend of oscillating downward. This rise is driven by momentum at the 4-hour level; currently, the price has returned to the support level of the 4-hour EMA52, but there is insufficient upward momentum at the 4-hour level. The price needs to further decline to the 8-hour or 12-hour support levels before rebounding, with the price around 138-141.
The hourly trend is basically the same as Bitcoin, with the little brother following the big brother, but Ethereum is clearly weaker. The daily chart shows a small bullish candle in the form of a doji, with trading volume slightly higher than the two weekend days, but still within normal trading volume. The price continues to fluctuate here. The daily MA30 line has started to flatten after a downward trend, with the MACD below the zero axis, showing a weakening upward momentum. The daily level still looks at how Bitcoin moves; the pressure of the daily EMA52 line (1890) is decreasing, making it easier to break upwards.
The intraday market prediction from yesterday was slightly off. Yesterday morning was a downward consolidation, and in the afternoon, it began to consolidate upwards. After a drop when the U.S. stock market opened, it started to rally again, and the daily line finally closed in the green. The trend remains relatively strong, but price fluctuations are starting to increase. Currently, it is still in a high-level consolidation trend. There are two days left until the monthly line closes, and the end of the month is also a time of significant price fluctuations with a large number of options expiring. Generally, there will be a reallocation ahead of the month-end. At the end of this month and the beginning of next month, the token2049 summit will be held in Dubai, which brings about the superstition that prices tend to fall during conferences.
The weekly chart shows a bullish candle with a long upper shadow and a short lower shadow, with trading volume equal to the previous week. The weekly chart is currently in a three consecutive bullish trend. The MA30 line on the weekly chart has shifted from an upward trend to flat, and the price is below the MA30 line. After the MACD crosses below the zero line, it returns to the zero line, showing a trend of weakening downward momentum. The weekly level is still likely to oscillate in a larger cycle in the range of 120-180. The daily chart shows a small bearish candle, with trading volume unchanged from the previous day. Liquidity is poor over the weekend, maintaining a trend of decreasing volume and downward oscillation. It is currently in a three consecutive bearish pattern. The MA30 line on the daily chart has begun to turn upward, and after the MACD crosses above the zero line, it shows a trend of weakening upward momentum.
The weekly chart also shows a large bullish candle, indicating a bottoming pattern at the weekly level. The position at 1385 can be tentatively confirmed as the bottom position for the past month. The downward trend at the weekly level has temporarily come to a halt, and we will wait for a rebound at the weekly level. The daily chart shows a small bearish candle, with trading volume remaining basically flat compared to the previous day. The price is still fluctuating. After peaking near the daily EMA52 line yesterday, it has begun to decline again. The current trend is one of the two scenarios we discussed a few days ago, which is to fluctuate and touch the daily resistance level before declining again.
The weekly line is a big positive line, and there will be an upward trend this week. The closing is good, and the weekly rebound begins to take effect, then a new round of rise at the weekly level is about to begin. The rise is not a one-time rise that will never turn back, there will be declines in the middle. The daily line is a small negative line. The liquidity is poor on weekends and the trading volume is slightly higher than the previous day, but it still shows a trend of shrinking volume and high-level fluctuations. When the U.S. stock market opens today, whether it will be a drop or a rise depends on the performance of the U.S. stock market tonight. In the short term, there will be relatively large price fluctuations at the hourly level, and contract players need to pay attention.
The daily line is a small bearish candle, currently in a two consecutive bearish pattern, with the trading volume only slightly more than one-third of the previous day, indicating a declining trend on reduced volume. The daily MA30 line has also started to show a slight upward turning trend, with the price consistently running above the MA30 line, and the MACD showing weak upward momentum near the zero axis. We have been saying recently that the upper edge of the red box area will be a significant resistance, coinciding with the daily MA120 line. Under this double pressure, it will be difficult for the price to break through in one go, so we expect significant resistance around 160.
The daily chart shows a small bullish candle, with trading volume only about half of the previous day, continuing to maintain a trend of shrinking volume and upward fluctuations. We have also been saying these past two days that the price has a trend of pushing further upward. The hourly level is following Bitcoin, currently still relatively weak, but there is still a possibility that Ethereum could push up further while Bitcoin consolidates at a high level. The current price is very close to the daily EMA52 line, it's just a matter of whether Ethereum can surge directly and then head towards 2000-2100; It continues to maintain an upward fluctuation, touching slightly before coming down, then experiencing a wave of daily level decline and bottoming out.
The weekly chart shows a large bullish candle, with trading volume approximately one-third more than the previous week, but it still does not qualify as a significant increase in volume. The weekly MA30 line maintains an upward trend, and the price closed above the MA30 line. If it stands firm for three consecutive weeks, a new round of increases will commence. A pullback is not concerning as it can confirm the support at this level, and the MA30 line is positioned at the lower edge of the red boxed area, with the price around 89000. The weekly MACD shows weakening downward momentum after returning above the zero axis, with the fast and slow lines about to form a golden cross. If it remains above the MA30 line for three weeks, the MACD will form a golden cross, potentially continuing to challenge the 120000-150000 range.
SOL is still maintaining its own rhythm; after reaching a recent high yesterday, it has experienced a slight pullback. Currently, it is still oscillating within a narrow range at a high level. The price is approaching the upper edge of the red box; we have been mentioning that this position has significant pressure for the past few days, with the weekly EMA52 line's resistance, the daily MA120 line's resistance, and the upper resistance of the daily large range oscillation. So this is a position to reduce holdings, not to chase prices. It is not too late to wait for the price to break above, pull back, and stabilize at 160 before entering. If it doesn't break above or fails to stabilize after the pullback, then the price will need to return to the 140-130 range for a rebound upward. So there are chances to enter.
The hourly trend is basically following Bitcoin, but is relatively weaker, as the price came down without making new highs. The daily level shows a small bullish candle resembling a doji, with trading volume slightly higher than the previous day, maintaining a pattern of shrinking fluctuations. The daily MA30 line is still in a downtrend, the price has closed above the daily MA30 line, and it has been three consecutive days of closing above MA30, indicating the potential for further upward movement. The daily MACD is still showing weak upward momentum below the zero axis, and it will take time to return to the zero axis. The daily EMA52 line is also a recent resistance level, so the price may reach around 1890 before pulling back down. In terms of operations, you can perform high selling and low buying at the given daily resistance levels below.
After touching the recent high of 95758 last night, there was no crash, but continued consolidation at a high level, with the hourly trend still looking quite strong. The daily chart has shown three consecutive small bullish candles, consolidating at a high level. From various indicators, there are no signs of selling. Since the US stock market is closed over the weekend, the price will likely continue to consolidate at a high level. It is important to note that the weekly candle closes at 8 AM next Monday. As long as the weekly candle closes above 91700, the weekly rebound will be effective, and the price will further rise towards the round number of 100000.
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Benjieming
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[Binance launches Alpha Points system - Exchange & Wallet]
1️⃣I recorded a video and shared it with my friends who are not very familiar with Binance. It took me a long time to find it. The query entrance is: ⓵Open the mobile app->Exchange->Home->Search "Alpha Points" in the search bar->Scroll down->Find the function (Alpha Points). ⓶I traded 800U, 19 points. 2️⃣Points = "Trading volume points" + "Balance points".
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.
The trend at the hourly level basically follows that of Bitcoin. The daily level is a small negative line with a short upper shadow and a long lower shadow. The trading volume is only half of that of the previous day, which is a pattern of shrinking decline. The daily MA30 line is still in a downward trend, and the price closed above the daily MA30 line. It has closed above the MA30 line for two consecutive days. Today is the third day, and it has remained stable for three consecutive days, so we can expect continued increases in the future. The daily MACD is still below the zero axis, showing a weak upward momentum trend. It will take time to return to the zero axis. Coincidentally, the daily EMA52 line is also a recent pressure level. Then the price will go to around 1890 and then fall back.
After a pullback to the 1-hour support level, a rebound has formed at the hourly level. This coincides with the position of the daily MA120 line. The daily chart shows a small bullish candle resembling a doji with a lower shadow, and the trading volume is two-thirds of the previous day, indicating a contraction in high-level consolidation. The 1-hour rebound is not as strong as expected, and without a new high, the price trend shows weakness. Therefore, the price will need to drop back to retest the 2-hour support level before rebounding again. Currently, the upper pressure level of the red boxed area remains relatively significant. In the short term, it will likely continue to be in a high-level consolidation trend, allowing some time for the altcoins to catch up.