SOL's weekly line started to adjust before Bitcoin and Ethereum. The weekly line has been running above the MA30 line, and its trend is slightly stronger than Bitcoin.
The weekly line is a small positive line with a long upper shadow and a short lower shadow. The trading volume is one-third of that of the previous week, which is an oversold rebound trend.
There is still room for further rebound at the weekly level, at least to the 200-200 range.
Since the weekly MACD has just formed a dead cross of the fast and slow lines, the trend has turned from weakening upward momentum to strengthening downward momentum, so the weekly line will not directly reverse in a V-shape.
After a rebound, there is still need for adjustment. We will see whether it is a shock adjustment or a downward adjustment as we go along.
The daily line is still maintaining a wide range of fluctuations, but a convergent triangle pattern has appeared in the short term, and the market is about to change. The trend here is that prices tend to rise and break through the triangle convergence pattern.
The view remains unchanged from yesterday:
The target of the rise is the daily MA30 line. There will be a retracement near 212. If it moves strongly, the retracement will not be too deep. We will wait and see at that time.
Daily pressure levels: 200-212-226-240-270, support levels: 180-169.3-152.3-168.5
The hourly level trend is that the 6-hour pullback shows insufficient downward momentum, and the 15- and 30-minute pullback trend.
In the short term, you can short at 200 and 213.6, and short at 184.2 and 181.7. It is effective within the day.
From the SOL liquidation heat map we can see
The price is rising, and there are a lot of large short orders waiting to be liquidated in the 195.8-202 area
The price is falling, and there are a lot of large long orders waiting to be liquidated in the 188.2-177.6 area
