After a wave of hourly rebounds, SOL's price has experienced a wave of hourly downward pullbacks. The daily line has formed a relatively long bearish candle, and the price has once again retraced to the daily MA120 line. It was mentioned yesterday that this line has strong support, so when the price reaches here, a rebound will form.
It is important to note that if there is still no decent rebound trend in the next two days, especially on Monday, the price will further decline to the 152-168.5 range to seek support. This range is a strong support level on the weekly chart, and when the price reaches this range, there will definitely be a good rebound.
Today's trend should show weak fluctuations while waiting for the U.S. stock market to open tomorrow.
Daily resistances are at 210.3-225.2-240-270, and supports are at 178.2-169.3-152.3-168.5
On the hourly level, there is a 15-minute retracement within a 2-hour rebound that has not taken effect yet, and the price will still push upwards to the 15-minute EMA52 line for a downward pullback.
In the short term, short positions can be opened at 184.1 and 191.4, and a long position can be opened at 178.2.
According to SOL's liquidation heat map, we can see
Price increase, with some large short positions waiting for liquidation in the 185.2-194.3 area
Price drop, with some large long positions waiting for liquidation in the 178.2-172.8 area
