The 4-hour level rebound has reached a new high and shows a top divergence pattern. The price has fallen back but did not reach the 4-hour EMA52 support; instead, it rebounded at the 2-hour EMA52 support. After the 2-hour level rebound, the price still needs to further decline to find support at the 4-hour (3696) or 8-hour (3500) levels before there is greater energy to continue rebounding. Therefore, the upcoming rebound can still be used to continue to lay out short positions at highs. After taking profit at the support positions on the 4-hour and 8-hour charts, one can reverse and open short-term long positions. The daily line is a small bearish line with upper and lower shadows, and the trading volume is normal. The daily MA30 line maintains an upward trend, and the MACD shows a continuous weakening of upward momentum at a distance above the zero axis. The fast and slow lines are about to cross; if they do cross, then the price will need to undergo a period of adjustment. It will wait for the MACD to return to the zero axis or for the price to return to the zero axis before there is a chance to continue rising.
After consolidating at a high level, the hourly chart has started to decline. Currently, it is in a rebound within the 12-hour rebound of the 2-day line, returning to the vicinity of the 6-hour EMA52. The 12-hour rebound is still not complete, but the 12-hour MACD has not formed a golden cross, instead showing an increase in bearish momentum. In the next 48 hours, if this situation does not change, the price will further decline. From the daily perspective, it is still consolidating at a high level, with normal trading volume. The daily MA30 line maintains an upward trend, and the MACD shows an increase in bearish momentum above the zero line.
The weekly line is a bullish candle with a long lower shadow, with trading volume reduced by a quarter compared to last week. The trend remains strong, and the weekly line is currently in a five consecutive bullish candle formation. The last occurrence of five consecutive bullish candles was from January to March of 2024, after which there were two large bearish candles. The room for price increase is getting smaller, the higher it goes, the greater the pressure. In previous instances, it was pushed down around the 4000-4100 level, and here it remains a reduction in positions. The daily line is a small bullish candle, with trading volume being only about half of last week's average daily volume. The weekend is still in a state of reduced volume, but the price has set a new high.
The weekly chart shows a small bullish candle with short upper and lower shadows, and trading volume is roughly the same as last week. The weekly MA30 line is still on an upward trend, and the MACD is showing a slowly increasing upward momentum, slightly above the zero axis. The price is consolidating at a high level, and although the adjustment is ending, there is still room for further increases. However, on the daily chart, there will be significant fluctuations. The weekly chart will continue to oscillate; patience is needed. The daily chart shows a small bullish candle with slightly increased trading volume compared to the previous day. Trading volume remains sluggish over the weekend, maintaining a high-level oscillating trend. Currently, it is a 2-day line rebound returning to the 12-hour support rebound, within the 30-minute to 1-hour rebound, and the 15-minute rebound trend.
Ethereum has rebounded after returning to the 4-hour EMA52 support. Currently, it continues to maintain a fluctuating trend at the 4-hour level, with the 4-hour MACD tangled above the zero axis. It will either break out upwards or drop back to test the 8-hour EMA52 before continuing to rebound. Currently, Ethereum's trend still remains strong. As long as Bitcoin does not drop, Ethereum is likely to continue breaking upwards. Today is Saturday, and the market is still mainly fluctuating. In the afternoon to evening on Sunday, volatility will increase, so please be cautious. Ethereum's altcoins will take the opportunity to repair the K-line over the weekend, waiting for Ethereum to sound the horn for a charge.
After the price dropped and retraced to the 12-hour EMA52 line, it started to rebound. It is currently fluctuating around 117400, which is a resistance level on the 1-4 hour chart, and it happens to be near the lower edge of the range. If it breaks upward after this fluctuation, it will initiate a rebound on the 12-hour level. If the 12-hour rebound is effective, there will be a chance to continue to challenge new highs. Many people believe that the sell-off by ancient whales caused the price to drop, but this is one-sided. The price was already at a point where it needed to drop back, and the sell-off by whales just accelerated this process. Perhaps the whales were helped by Galaxy, who first built a short position with their left hand and then sold with their right hand?
The daily chart still shows a bearish candle, with trading volume remaining the same as the previous day. Two consecutive bearish candles have completely engulfed the previous gains. The daily MA30 line is still in an upward trend, but the MACD shows weakening upward momentum above the zero axis. Currently, the price has bounced back from the support of the 6-hour EMA52 line, but the 6-hour MACD is still in the process of returning to the zero axis, indicating a weak rebound. Next, a short-term long position can be taken near the MA30 line on the daily chart, which is also near the upper edge of the red box (164-168), aiming for a target around 183. Daily chart resistance levels are 193-210-220, while support levels are 175-166-156-145.
The rebound after testing the 4-hour EMA52 line has not triggered a bullish crossover in the MACD. If it drops directly from here, it indicates insufficient upward momentum, and the price will go lower to the 8-hour EMA52 line (3340), where a rebound on the 8-hour chart can occur. The daily chart shows a small bullish candle with both upper and lower shadows, and the trading volume is basically the same as the previous day. The daily MACD is showing a weakening upward momentum above the zero line. The price is still oscillating at a high level, but the upward momentum continues to weaken. If there is no large bullish candle to break through, continued oscillation may lead to a waterfall decline.
Currently, we are experiencing a rebound within the 2-day line, where the 6-12 hour common rebound returns to the 6-hour EMA52 before oscillating. It has been unable to effectively touch the 8-hour EMA52 line. The support at the 8-hour level will become weaker. Next, we can wait to buy at the 12-hour EMA52 line (114910). The daily line shows a small bearish candlestick in the form of a doji, with trading volume remaining the same as the previous day, maintaining a high-level oscillating trend. The view remains the same as yesterday; there will not be a sharp decline for the time being. The price will gradually drop to the 12-hour support before rebounding. If the rebound fails to reach a new high, it will need to test the 1-day line support before rebounding again.
Yesterday, the hourly level saw a continuous decline, eventually reaching near our provided 4-hour EMA52 line (3500), where it found support and formed a rebound at the hourly level. Currently, the rebound appears relatively strong, but the 4-hour MACD is still in the process of returning to the zero line. If the fast and slow lines cross positively, the 4-hour rebound will take effect, and the price can continue to rise. The daily line shows a long lower shadow and a short upper shadow bearish candle, with trading volume remaining basically flat compared to the previous day. The MACD is above the zero line and shows a continued weakening trend of bullish momentum. Currently, a short-term top pattern has appeared. As we mentioned, the higher it goes, the more we need to take profits in batches. There is a divergence in funds here, with the key position at $4000, which is also a previous high. If the market does not form a consensus and the price cannot rise here, it is likely to drop sharply.
Currently, it is a 2-day rebound within a 6-12 hour joint rebound returning to the 6-hour EMA52 rebound oscillation. It has not been able to effectively touch the 8-hour EMA52 line, and the support here will weaken. Next, we can wait to buy at the 12-hour EMA52 line (114660). The daily chart shows a small bearish candle with a lower shadow, and the trading volume is one-third less than the previous day, continuing to maintain a high-level oscillation trend. There will not be a sharp drop for now; it will still fluctuate back and forth. If the 12-hour rebound fails to make a new high, we will have to test the daily support before rebounding.
All Network Contract Liquidation Data In the last 24 hours, a total of 129,064 users have been liquidated, with a total liquidation amount of $392 million
The daily chart shows a three consecutive bullish candle pattern, with two days of large bullish candles accompanied by increased trading volume, indicating that there is still room for price to rise. This time, the target will be the 210-220 area. As long as Bitcoin does not drop, SOL will continue to rise, but it should be noted that the higher the price rises, the greater the pressure will be. Unless there is a strong breakout with a large bullish candle, once the price stagnates, it will quickly fall back. Daily resistance levels are 220-240-256, support levels are 186-168-156-145.
Total Network Contract Liquidation Data In the last 24 hours, a total of 106,985 users were liquidated, with a total liquidation amount of $362 million
The daily chart shows a long bullish candlestick, with trading volume starting to increase. The daily MA30 line maintains an upward trend, and the MACD shows an increase in bullish momentum above the zero line. The price surged to around 200, forming a small pullback. After consolidating at a high level, it began to surge again. If it effectively breaks through the resistance at 200, the price can continue to reach the range of 210-220. As long as Bitcoin doesn't drop, SOL still has a chance to push higher, hoping Bitcoin can provide some opportunities. Daily level resistance at 205-220-240-256, support at 186-168-156-145
The daily chart shows a small bullish candlestick with a long upper shadow and a short lower shadow, with trading volume about a quarter more than the previous day, still maintaining normal trading volume. The daily MA30 line maintains an upward trend, and the MACD shows a death cross of the fast and slow lines slightly above the zero axis, indicating an increase in downward momentum. The rebound after the 6-hour support mentioned yesterday is not very strong, and the price has returned to oscillate near the 6-hour EMA52 line. Next, you can still execute a long position at the 8-hour EMA52 (115550) and the 12-hour EMA52 (113860) lines. Daily resistance levels are 120000-131700-150000, and support levels are 113600-111800-105100-100500.
Total liquidation data across the network: In the last 24 hours, a total of 106,446 users were liquidated, with a total liquidation amount of $310 million
The weekly line is a bullish line with an increase of over 17%. Compared to Ethereum, the weekly increase of SOL is smaller, and it still maintains a震荡上行 (oscillating upward) trend. The price has also reached the neckline position on the weekly level, where the pressure will be relatively heavy. The normal trend here is a false breakout followed by a decline and a retest. The specific trend still depends on how Bitcoin moves; as long as Bitcoin does not fall, SOL has a chance. The daily line is a bullish line with an upper shadow, and the trading volume is slightly higher than the previous day, but still lower than the average daily trading volume of the past few working days.
The weekly chart shows a small bearish candle with a long upper shadow and a short lower shadow, and the trading volume has increased by about 30% compared to last week. The weekly MA30 line shows a slight upward trend, and the MACD is exhibiting a strengthening upward momentum above the zero axis. If this week continues to show a bearish candle, it will indicate insufficient upward momentum, and further adjustments will be needed. The pullback range is between 112000 and 109700. The daily chart shows a four consecutive bearish candle pattern. The daily MA30 line is still in an upward trend, and the MACD is showing weakening upward momentum slightly away from the zero axis, with the fast and slow lines about to cross. Therefore, Bitcoin will continue to adjust, and high-level fluctuations will replace the downward trend.
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