The $SOL /USDT 1W chart reveals an intriguing narrative for traders and investors. Despite a minor dip of -0.9% to $185.74, Solana's price remains within its long-standing uptrend channel, signaling potential for significant moves ahead.
Support Levels to Watch
As the price approaches the lower boundary of the channel, several critical stop-loss levels emerge:
SL1: $184 (near-term support)
SL2: $166
SL3: $143
SL4: $117
Upside Potential
Should the correction stabilize and buyers regain control, traders could focus on the following targets (T) for the next bullish leg:
T1: $211
T2: $234
T3: $253
T4: $271
What’s Next?
The current correction offers an opportunity for strategic entries, particularly if support at $184 holds. A visible green weekly candle could signify renewed momentum, pushing the price toward its ambitious targets.
Conclusion: SOL's price action is at a pivotal point. Whether the correction deepens or a rally takes off, this is a critical moment for traders to monitor and adapt their strategies accordingly.
