🔴SOLUSDT Trading Signal

Timeframe: 1 hour

Pair: SOL/TetherUS

Technical Analysis:

📈 Upward Trend Pattern: The price is moving within an upward trend pattern on the 1-hour frame, adhering to its boundaries well.

🔴 Resistance Area: A resistance area is identified at $140, where the price has touched and rebounded from.

📊 Moving Average: The price is stable below the 100-period moving average, indicating a potential bullish crossover.

📉 RSI Indicator: A downward trend on the RSI indicator supports further decline, with an RSI reading of 43.56.

Fundamental Analysis:

📊 Market Sentiment: Neutral, with a sentiment score of 0.52.

Candlestick Patterns:

🕯️ Bullish Engulfing Pattern: Identified on the 4-hour chart, indicating potential reversal.

🟢Entry Price: $135

🎯 Targets:

1. $132

2. $130.24

3. $128.40

🛑Stop Loss: $138.50

Risk Reward Ratio: 1:3

Disclaimer: DYOR and NFA.

$SOL

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