All this nonsense has mostly stopped working, any whale can overturn these theories at any moment, and that's exactly what they do.

$SOL /USDT chart, here’s a concise analysis and trading strategy:

Chart Analysis:

Current Price: $221.55, showing a 3.80% gain.

Moving Averages:

MA(7): $199.36 (short-term bullish momentum).

MA(25): $211.29 (price above MA(25), indicating a bullish trend).

MA(99): $168.06 (long-term trend remains bullish).

Volume: Significant recent trading volume supports the price increase.

Key Levels:

Resistance: $264.39 is a critical resistance level. A breakout above this would signal strong upward momentum.

Support: $211.46 acts as the current support. If breached, expect a pullback to $170.55.

Indicators:

Recent price movements and volume suggest a potential breakout above $222.14 (24h high). Watch for increased volume and candlestick confirmation.

A sustained move above MA(7) and MA(25) strengthens bullish sentiment.

Strategy:

1. Buy Signal: Traders could enter near $221.55, placing a stop-loss below $211.46 to manage downside risk.

2. Target: Aim for the next resistance at $264.39.

3. Caution: Avoid buying if the price falls below $211.46 or shows decreasing volume.

Conclusion:

With bullish indicators and volume, buying SOL around $221.55 is viable, targeting $264.39. However, monitor market conditions for confirmation before entering.
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