$SOL

/USDT Technical Analysis – Eyeing Key Levels

Solana (SOL) is currently trading at $238.08, showing resilience in a consolidating market. Here’s what traders should watch for:

Current Performance:

24H High: $242.54

24H Low: $229.60

Volume: 5.54M SOL (1.31B USDT)

🎯 Target 1: $240.00 (Immediate Resistance)

Breaking above $240 will indicate bullish sentiment, potentially driving momentum toward the next resistance zone. Traders can look for high buying volumes to confirm a breakout.

🎯 Target 2: $245.00 (Key Resistance)

If $240 is conquered, $245 could be the next milestone. This level has historically seen profit-taking, so watch for increased volatility.

🎯 Target 3: $250.00 (Psychological Barrier)

A move past $250 could signal a strong bullish rally. Sustained trading above this level might attract new buyers and confirm a medium-term uptrend.

Support Levels to Watch:

$235.00: Immediate support. A dip below may signal short-term bearish activity.

$230.00: Strong support zone, critical for maintaining market confidence.

Trading Strategy:

Monitor 15m and 1H charts for breakout confirmations.

Set stop-loss levels around $230 for risk management.

Watch for increased volume and RSI levels near the targets to validate trends.

Stay updated and trade wisely on Binance!