SOL still maintains a relatively strong trend. As mentioned yesterday, a stage bottom pattern has emerged, with two consecutive days of bullish growth. The trading volume is still lacking a bit. Currently, the price is encountering resistance at the 4-hour EMA52 line during its rise, and a decline and pullback within the hourly level is expected. Long positions chasing high should take appropriate profits, as the drop will not be too large, so there is no need to worry too much.
The price is expected to continue rebounding on the daily level, with the first resistance at around 210 and the second resistance at around 220.
The rebound is likely to make a slight pullback around 210, then continue to surge towards 220, followed by another pullback to 210, and after that, a wide fluctuation in the range of 210-220. How exactly it will unfold, we will observe as we go.
Next, we will see who adjusts first between SOL and ETH, leading the rise.
Daily level resistance at 208.6-220-240-270, support at 186.4-179.2-169.3-152.3-168.5
On the hourly level, there is a 1-hour rebound encountering a 4-hour EMA52 resistance level for a pullback.
In the short term, one can short at 203.2 and 208.6, and go long at 191.2, effective for the day.
From the liquidation heat map of SOL, we can see that
the price is rising, with some large short positions waiting for liquidation in the 198.8-203.6 area
the price is falling, with a large number of long positions waiting for liquidation in the 193.1-187.4 area, 185.8-182 area, and 180-172.6 area
