The SOL/USDT 30-minute chart reveals an intriguing symmetrical triangle pattern ๐, signaling a potential breakout in either direction. Hereโs a quick breakdown of the key indicators:
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Key Indicators:
EMA Ribbon ๐: Provides dynamic support and resistance, with the price currently testing these levels.
Ichimoku Cloud ๐ฉ: Suggests ongoing consolidation, indicating that the market is still building energy before a potential move.
RSI (Relative Strength Index) ๐: Currently at 44, signaling neutral momentum. This suggests we may see a breakout soon, but it's not yet in overbought or oversold territory.
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Whatโs Next for SOL?
Breakout Scenario ๐: A breakout above the triangle pattern could push prices higher, with key activity levels around $238-$240. Traders should watch these levels for strong bullish momentum.
Bearish Scenario ๐: If the price breaks below the triangle, it may indicate a bearish scenario with potential support around $220. Volume profiles suggest that any breakdown below $238 could signal a shift towards lower levels.
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Total3 Weekly Chart: Bullish Cup & Handle Pattern ๐
The Total3 chart shows a bullish "cup and handle" pattern with a confirmed breakout above the neckline ๐. However, RSI at 71 indicates overbought conditions โ ๏ธ, so expect possible pullbacks before the next move.
Target: Strong upside potential, with volume confirming support at the breakout level ๐.
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SOL Liquidation Heatmap ๐:
Key Resistance Levels: Dense yellow zones around $250, signaling strong liquidation resistance โ ๏ธ. This suggests high volatility and possible price corrections as the market balances out.
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๐จ Traderโs Alert
Monitor closely for directional confirmation. A breakout could lead to strong bullish momentum, but be cautious of a pullback if price action weakens. Manage risk accordingly, especially with high volatility in play.
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