Chart Analysis: SOL/USDT (2 Weekly Chart)



Target and Prices:


1. Post-Breakout Target: In line with the Fibonacci extension levels determined on the chart, the first main target appears to be the 423-430 USD level (at the 1,618 level).


2. Medium and Long Term Goals Above:


• Level 2,618: Around 679 USD.


• Level 3,618: Around 936 USD.



Support and Resistance Levels:


• Main Support: The 185-195 USD zone is a strong support level. If there is a drop below this zone, the 145-150 USD level may be tested again.


• Critical Resistance: The 254 USD level stands out as a major resistance. If this level is broken, the price is expected to move rapidly upwards.



Indicators:


• Fibonacci Extension Levels: Indicates key areas for uptrend targets.


• Volume: If an increase in volume is observed, this means that the breakout is supported by a strong movement.


• RSI (Relative Strength Index): It should be checked whether it has entered the overbought region. If there is an overbought signal, a correction can be expected.



Formations and Formation Reversals:


• Rising Base Formation: When the price makes continuous higher lows, it shows that the uptrend is strong.


• Resistance Break: A strong close above USD 254 could start a major bull run.



Trend Direction:


• The general trend is upward. The current breakout indicates that the trend will continue.



Strategy and Recommendations:


1. Buying from the Support Zone: The 185-195 USD range is a strong support zone. Pullbacks to this zone can be considered as a buying opportunity.


2. Follow-up on Breakout: If a volume close is made above the 254 USD level, the rise can be benefited from by buying at this level.


3. Gradual Profit Taking: Gradual profit taking can be done at the first target of 423 USD. For longer term targets, the 679 and 936 USD regions can be followed.


4. Stop Loss: If there is a drop below 185 USD, positions should be protected by setting stop loss levels.



As a result, SOL/USDT has given a strong bullish signal. However, it is necessary to act in a planned manner by following the market dynamics. If supported by volume, the probability of the price reaching the set targets is quite high.