Yesterday we mentioned that after the price rebounds, it would continue to fall to seek stronger support levels. After a weak hourly rebound during the day yesterday, it followed Bitcoin early this morning, showing a wave of hourly downward movement.
The price has dropped to the upper range of 155-185 that we discussed yesterday (Binance spot minimum 187), forming a rebound.
The reason there is support here is that the high points from May and July are near this position, forming a neckline support.
In the coming days, there will be a wave of rebound. After the rebound, there will be a second daily-level drop for a retest, and then it will move in a range, creating a continuation platform, and we will proceed step by step.
The daily MA30 line has clearly turned downward, so the highest point of the short-term price rebound will be to touch this line. There is no direct V-shaped rebound without a pullback, so grasp the rhythm well.
Daily-level resistance at 233.6-245-270-283-300, support at 184.5-169.3-158.8-152.3
From the hourly level, it is currently showing a 30-minute pullback to a new low without a divergence pattern in the 10-minute pullback.
There will be further rebounds in the short term. You can short at 198.6 and 202.6, and go long at 185, effectively within the day.
From the liquidation heat map of SOL,
The price is rising, with some large short positions waiting for liquidation in the 198-203 area, and a large number of large short positions waiting for liquidation in the 211-234 area.
The price is falling, with a small number of long positions waiting for liquidation near 186.
