SOL/USDT 4-Hour Chart Analysis: A Bullish Comeback or a Bearish Trap?

Current Overview:

Price: $195.03 (+4.95%)

24h High: $196.89

24h Low: $184.89

Volume: 1.56M (active trading with decent momentum).

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Key Levels to Watch:

1. Support Zones:

$190.00: Immediate support, tested multiple times during the recent pullbacks.

$185.00: Strong demand zone aligned with previous consolidation and volume surge.

2. Resistance Zones:

$200.00: Psychological and technical resistance, holding back recent bullish attempts.

$210.00: Key breakout zone where buyers could dominate if breached.

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Technical Indicators & Observations:

1. Trend: The pair shows signs of recovery from its recent dip, making higher lows on the 4H chart.

2. Volume: Increasing, signaling renewed interest from market participants.

3. Moving Averages: The price is nearing SMA-9, a short-term bullish crossover may trigger further upside.

4. RSI: Approaching 55, indicating room for upward momentum before hitting overbought levels.

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Trading Strategy:

1. For Bulls (Long Setup):

Entry: Above $200.00

Target 1: $210.00

Target 2: $220.00

Stop Loss: $190.00

Reason: A breakout above $200.00 would confirm bullish momentum, likely leading to an extended rally to $210.00 and beyond.

2. For Bears (Short Setup):

Entry: Below $190.00

Target 1: $185.00

Target 2: $180.00

Stop Loss: $200.00

Reason: If the price fails to hold $190.00, bearish momentum could take over, targeting lower support levels.

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Future Predictions:

SOL/USDT is at a critical junction. A decisive move above $200.00 could fuel bullish enthusiasm, driving the price toward $210.00-$220.00. Conversely, failure to maintain $190.00 might result in a retest of the $185.00-$180.00 support range.

Conclusion: The battle between bulls and bears intensifies near $195.00. Will SOL ride the bullish wave, or are the bears waiting to strike? Time to set alerts and watch the breakout levels closely!

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$SOL

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For those who don't understand why the market is down, here's a simple explanation:

The Fed (the central bank of the United States) announced that it is not allowed to buy BTC, and why is that bad? The big rise in the market was generated precisely in the expectation of the purchase of Bitcoin by the United States. In other words, this announcement was seen with great pessimism by large and medium investors, who suffered the first wave of falls by selling part, if not all, of their positions.

In addition, several ETFs (Index Funds) had mass redemptions and since they invest in several assets, including Bitcoin, without capital their operations had to be reduced. We are not talking about a few dollars, but billions of dollars, and a reduction of this size in investments undoubtedly impacts the entire market.

Due to this first fall, some poorly positioned investors also ended up selling their positions, which led to another fall, even more abrupt than the first. Therefore, other investors driven by fear also liquidate their positions and further lower prices, leading to the moment we are about to begin, which will be one of market despair, where even those who are well-positioned close their operations for fear of the decline continuing and, ironically, they cause the last major wave of decline that can sometimes last for days.

A tip for two types of investors now: If you are already positioned and do not need the money under any circumstances, do not exit your position! However, if you have not yet made your entry, wait for the sea to calm down and wait for a sign that may indicate that the turbulence will end and then open your position.

Now, I leave you with a thought; the market recovered from the stock market crash in 1929 and the real estate crisis in 2008 (two examples completely out of proportion to the current situation). Do you really think that this decline will not end and the market will not recover?

#BTCNextMove #TradeToWin