$SOL /USDT Technical Analysis
Current Price: $195.50 (-0.73%)
Price Action: $SOL /USDT has shown strong recovery from the 24-hour low of $175.26, pushing toward a high of $197.32. The price is consolidating near $195.50, signaling the potential for another leg upward if bullish momentum continues.
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Targets:
1. First Target: $200.00
Immediate psychological resistance level. A breakout above this could attract further buying pressure.
2. Second Target: $210.00
Medium-term resistance level based on Fibonacci retracements and historical price action.
3. Third Target: $225.00
A strong bullish target derived from extended Fibonacci levels and upward channel projections.
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Trade Management:
Secure Profits: Partial profit-taking is recommended at $200.00 and $210.00 to manage risk and lock in gains.
Stop Loss: Place a stop loss at $190.00 to protect against downside risks while allowing room for price fluctuations.
Market Outlook:
SOL/USDT is maintaining its bullish structure. A decisive break above $200.00 could lead to a rally toward $210.00 and higher. Watch for declining volume, which might indicate a temporary consolidation or reversal.