[10.28 Market Observation | Intensified Moving Average Game, How to Navigate Key Positions?]

Since last night, the market has experienced a pullback, and today the daily line closed below MA120. Next, we will focus on observing the performance of key support levels. If the key positions are lost, multiple indicators may resonate, and market sentiment may weaken. So, where are the key positions for the three major currencies today? Let's take a look.

The short-term pressure is currently around 115200. If it can break through, there is hope to test the daily strong resistance area of 117500-118000 again. The key support below is at 111400, and if it cannot be effectively maintained, it may further test the support at 110000 or even 108400. The trend line on the hourly level is also worth paying attention to; if it breaks down, it may test 108400 downwards.

$BTC
rebounded after finding support near 197 yesterday. Today's short-term pressure is in the range of 203.5-204.5. If it can break through, the pressure level will move up to 206.5. If the support at 197 is lost, the next support will look towards the vicinity of 182.

$SOL
Today's short-term resistance is located in the range of 4220-4230. If it can effectively break through, the resistance will look towards 4370-4380. The key support below is at 4035, and if it is lost, it may further test the support at 3915 and 3810.

Overall, the market is currently in fierce contention for the daily moving average, and it is highly likely that it will test the validity of the key support in the future. If the support fails, combined with the performance of the indicators, the market may weaken again. We previously mentioned the possibility of forming a head at the weekly level, so it may be necessary to pay attention to trend changes at a larger scale.