Analysis of Current Levels: Strategy and Recommendations $SOL
Level Analysis
Chart D1:
Support: 189.72, 149.64
Resistance: 229.78, 269.86
The level 189.72 is justified as the price has tested it multiple times, demonstrating demand. The level 229.78 coincides with local highs where the price faced resistance. The level 149.64 corresponds to previous descending extremes.
The resistance level in the range of 208–210, where the price may slow its growth.
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Chart H4:
Support: 175.26, 171.84
Resistance: 221.97, 196.90
The level 175.26 is justified as it is the local minimum of the descending movement. The level 221.97 confirms resistance at previous highs.
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Recommendations:
1. Monitor the zone 208–210 on both timeframes. A consolidation above may lead to movement towards 229.78.
2. Use RSI:
On H4 RSI = 84.92, indicating overbought conditions. A pullback to 196.90 or 189.72 is possible.
On D1 RSI is also close to the overbought zone, increasing the likelihood of a correction.