Yesterday morning, I just mentioned that after the daily line broke through the MA30 line and stood above it for three consecutive days, it would be considered stable. However, in the evening, there was a drop with an amplitude close to 8%, and the price was pushed down below the MA30 line. What a slap in the face.
The MACD on the daily line is returning from a distance to the zero axis below it, but for the past two days, it has still been below the zero axis, showing a weakening upward momentum. The MA30 line is still in a downward trend, and this drop has made the K-line look very bad.
Recently, adjustments are needed to repair the K-line trend. Let's observe the rebound strength in the coming days before making further judgments.
However, from a medium to long-term perspective, the upward trend still holds. So if we can't grasp the short-term trend, we might as well just watch.
It is still worth continuing to buy spot in batches at lower prices; as long as the trend remains, there is no need to worry too much.
Daily level resistance at 213.6-226-240-270, support at 197.6-187.2-172.8-157.3.
On the hourly level, the current trend is showing a lack of downward momentum in a 5-minute pullback.
In the short term, one can short at 206.5 and 212.2, and go long at 199 and 195.
From the liquidation heatmap data of SOL, it can be seen that last night's drop liquidated a large number of long positions.
As the price rises, a large number of short positions are scattered in the 206-222 area waiting to be liquidated.
As the price falls, there are still some large long positions waiting to be liquidated near 200.
