Technical Analysis of $SOL

/USDT:

Current Price: $181.21

24h Price Change: -1.98% (currently in a slight downtrend)

Key Indicators:

24h High: $187.87

24h Low: $177.88

Moving Averages:

MA (5): 36,882.777

MA (10): 52,555.556

Volume: 4.15M SOL traded in the past 24 hours with significant liquidity in USDT (756.93M).

Momentum & Trend:

Price Momentum: Slight bearish momentum due to a recent drop of 1.98%, with the current price testing the lower range near $177.88.

Support Levels:

$177.88 (strong support)

$181.20 (current level)

Resistance Levels:

$187.87 (recent 24h high)

Trade Signal: Bearish short-term trend, but price may recover if it holds above the $177.88 support.

Trade Targets (🎯):

1. Target 1: $187.87 (Near 24h High)

Trade Action: Buy if the price breaks above the $181.20 resistance level.

Momentum: Bullish if the price rallies past this level.

2. Target 2: $184.71

Trade Action: Sell near this level if there's no breakout above $187.87.

Momentum: Neutral-to-bullish, moderate resistance here.

3. Target 3: $177.88 (Support Zone)

Trade Action: Buy if the price tests and holds near $177.88.

Momentum: Bearish in the short term, but bullish if the price bounces off this level.

Conclusion: The market is in a consolidation phase. Watch for price action around support and resistance levels. Potential for a short-term bounce or continued decline depending on momentum. Adjust trades based on price behavior around the $177.88 support zone.

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