📊📉📈 Technical Analysis: From Sol / Solana
1. Bullish Trend:
The current price of 240.51 USDT is above the short moving average (blue line), indicating a short-term bullish trend.
The chart shows a series of green candles, which indicates positive momentum.
2. Resistance and Support:
The immediate resistance seems to be around 247 USDT (24-hour high).
The key support is around 236.66 USDT (longer moving average).
3. Volumes:
A 24-hour volume of 5.04 billion USDT indicates an active market, which is favorable for a trade entry.
4. Momentum:
The price is slightly above the last consolidation level, which may suggest a breakout. However, this breakout needs to be confirmed.
Recommendation:
To buy:
An entry is possible if the price exceeds 247 USDT with high volume, confirming a bullish breakout.
Place a stop-loss below 236.66 USDT to limit losses in case of a reversal.
To sell:
If the price fails to break above 247 USDT and starts to fall back towards the support of 236.66 USDT, a short sale could be considered.
Conclusion:
It is prudent to wait for a confirmation (break above 247 USDT or rejection towards 236.66 USDT) before taking a position. Adjust your strategy according to the upcoming movements.
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