The monthly line is a long bearish candle with short upper and lower shadows, with trading volume down by one-fifth compared to last month, representing a pullback after a volume-driven surge.
The adjustment of SOL precedes Bitcoin, and the magnitude of the adjustment is also relatively large, with the price hitting the weekly MA5 average line, resulting in a rebound.
Based on previous trends, there will be a nice rebound in January. As long as the January bullish candle's body exceeds half of December's bearish candle's body, the upward space will open up.
The bull market is still ongoing, and the decline is for a better rise. The fluctuations at the monthly level are magnified significantly at the daily level, but the upward trend at the monthly level remains unchanged. Holding the low-priced spot purchases is still worth it, waiting for a new round of increases at the monthly level is sufficient.
The daily level movement is quite similar to that of Ethereum. The recent days have shown this similar doji star pattern, but the fluctuation range is slightly larger than that of Ethereum.
The daily MACD has initially shown a golden cross of the fast and slow lines slightly far below the zero line, but the golden cross below the zero line will have relatively weak upward momentum. In the short term, this fluctuating trend will continue, both washing out and gathering strength.
I have been saying that we just need to see whether Ethereum or SOL leads the rise first. The rise will not only go up without falling; a fluctuating upward trend is healthier.
The target for the rise is at the daily MA30 line, near 212, where there will be a pullback. If it is strong, the pullback won't be too deep; we will assess it as we go.
Daily resistance levels are 201.8-210.4-226-240-270, and support levels are 181-169.3-152.3-168.5.
From the SOL liquidation heat map data, we can see
As the price rises, there are a large number of large and extra-large short positions waiting for liquidation in the 199-203 area.
As the price falls, there are a large number of large long positions waiting for liquidation in the 188.8-182.2 area.
