Solana ($SOL

/USDT) Technical Analysis: Key Levels to Watch!

Solana has been experiencing notable price movement, making it a hot topic in the crypto market. Let’s dive into the technical outlook and identify potential targets:

Current Market Overview

Price: $238.97

24h Range: $231.21 - $256.70

Volume: $1.18B

Technical Analysis

1. Support Level: $231.00

A critical zone to watch as it aligns with recent lows. If SOL breaks below this, it could trigger a stronger bearish trend.

2. Resistance Level: $250.00

This level is key for bulls aiming to regain momentum. A breakout here could lead to a rapid move upward.

3. Fibonacci Target (Golden Zone): $270.00

The 0.618 retracement level, indicating a potential recovery point if bullish sentiment strengthens.

3 Targets 🎯

First Target: $250

A minor resistance level. Achieving this would signal short-term strength.

Second Target: $270

Strong bullish confirmation if SOL pushes past $250. Traders may see this as a swing trading opportunity.

Third Target: $300

A psychological milestone and a long-term resistance point. Breaking this could attract significant buying interest.

Trading Strategy:

Watch for price action near $231 for a potential rebound.

If SOL maintains above $250, consider it a bullish signal toward $270.

Tight stop-loss management is crucial due to recent volatility.

@DIN Data Intelligence Network

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