Yesterday, SOL/USD touched the EMA200 line at the price level of $175, an important signal indicating that this coin is in a strong support area. In addition, other technical factors also support the possibility of price increase:

1️⃣ TTCATR Indicator: Solana is currently trading near the S3 level on the TTCATR indicator (set EMA20 with ATR3). This is often a sign that the price has entered the "oversold" area and may bounce upwards.

2️⃣ RSI Index: The current RSI of SOL is at 31, indicating an "oversold" state – a highlight for investors to consider buying, as the price is likely to recover from here.

3️⃣ Price area $180: This area was previously a strong resistance in March, May, and July, but has now turned into support. This indicates a change in market structure, a positive signal to expect the price to bounce from here.

Trade Idea

  • Entry Point (Long Entry): $180

  • Stop Loss Point: $170

  • Take Profit Target: $260

Potential Analysis

If Solana bounces from this support level, the expected profit could reach $80/coin, equivalent to more than 44% from the entry point. However, the risk if the price drops to the stop loss level is only at $10. The Risk/Reward ratio is up to 1:8, an attractive opportunity in a volatile market.

🚨 Important Note:

  • Always closely monitor market fluctuations.

  • DYOR (Do Your Own Research): Make sure to research thoroughly before making decisions, as the crypto market is constantly changing.

  • Manage capital and risks wisely to protect your investment portfolio.

🚀 Let's wait and seize the opportunity from Solana's breakthrough! 💸