The SOL weekly chart is approaching the MA30 line (green). In the previous trends, we can see that the price tends to rebound after getting close to the MA30 line (green). However, the real significant support is at the EMA52 line (red). Therefore, the trend at the weekly level will see a rebound after gaining support from the green line, followed by a further dip to gain support from the red line, leading to wide fluctuations. After the second dip, a new round of weekly upward movement is expected. Based on this prediction, I have drawn the weekly candlestick forecast for reference.
Currently, the daily chart is fluctuating near the daily MA120 line, and there hasn't been a stronger rebound as expected. Therefore, the support at this level is likely to be broken, and the price will continue to decline.
The movement of SOL is relatively weaker compared to Bitcoin. If a strong rebound does not occur today, the price will likely continue to decline towards the 152-168.5 range to seek support. This range is a strong support level at the weekly level, and when the price reaches this range, a decent rebound is expected.
It all depends on how Bitcoin performs. Don't be afraid of the spot market; the major trend won't end now. Every decline is for a better rise.
Daily resistance levels are 210.3-225.2-240-270, and support levels are 178.2-169.3-152.3-168.5.
The hourly chart shows a 2-hour pullback within a 1-hour pullback within a 15-minute pullback. On the short-term, short positions can be taken at 185.5 and 192.2, and a long position can be taken at 170.
From the SOL liquidation heatmap, we can see
The price is rising, with some long positions waiting for liquidation around 185. There are a large number of significant short positions waiting for liquidation in the 187.2-193.2 area.
The price is falling, with a large number of significant and extremely large long positions waiting for liquidation in the 176.2-172.2 area.
