$SOL current price action has reached a micro resistance area, signaling a potential guide for the price and making the yellow wave count (bullish scenario) more likely. The 1-hour chart shows a wave 1 (initial rally) and a possible wave 2 (sideways action), which might have bottomed on Friday, 16th. A wave 3 could push the price higher towards $236 or beyond, with $146.70 and $152.12 as key levels to watch. A break above $146.70 suggests a third wave unfolding, while a break below $119.61 could indicate a bearish scenario. Understanding the market's direction before key support breaks is crucial, as corrections can be unpredictable.
Trading Setup for #Solana :
Buy Point (BP): $146.70 (78.6% retracement level)
Take Profit (TP): $236 (Wave 3 target)
Stop Loss (SL): $119.61 (Key support level)
This setup targets a potential bullish breakout while managing risk with a stop loss below key support.