The daily chart shows a small bullish candle with a long upper shadow and a trading volume that is lower than the previous day, indicating a contraction in high-level oscillation. It appears strong, but attention is needed as the price may continue to decline.
In recent days, it has been mentioned that the price is quite far from the daily MA30 line and still needs time to adjust; it cannot just reverse sharply. After reaching a new high, there will always be an adjustment trend.
SOL appears strong because the wealth effect on the blockchain is still present, but as the PVP situation on-chain becomes increasingly serious in the past few days, there have been more and more rug pulls involving various celebrities and Twitter accounts being hacked. As the on-chain profit-making effect diminishes and the enthusiasm and FOMO sentiment decrease, the demand for SOL will correspondingly lessen, and the price will naturally fluctuate downwards.
Therefore, if you are trading short-term, make sure to enter and exit quickly. If you plan to hold spot for the medium to long term, you can buy in batches at several support levels on the daily chart.
Daily resistance levels are 262.3-273.2-285-300, and support levels are 240.6-224.5-204.7-195-177.3.

图像

On the hourly chart, there is currently a 3-4 hour rebound with insufficient upward momentum. The price needs to decline and adjust to the 6-8 hour support before rebounding.
On the short term, you can go long at 235.8 and 230.4, and short at 270 and 280.

图像

From the liquidation heatmap data of SOL,
The price is rising, with some short positions waiting for liquidation in the 265.6-268.2 range, and a large number of significant short positions waiting for liquidation in the 270.4-275 range.
The price is falling, with a large number of significant long positions waiting for liquidation in the 246.6-237.2 range.

图像

#SOL #solana