Technical Analysis for $SOL
/USDT:
Current Price: $181.21
24h High: $187.87
24h Low: $177.88
Trend Analysis:
Short-term Trend: Slight downtrend over the last 24 hours with a 2.71% drop. The price has been trading within a narrow range of $177.88–$187.87. The market is showing signs of consolidation, waiting for a breakout.
Medium-term Trend: Positive, with SOL showing potential for an upward movement if it breaks above the resistance level.
Key Levels to Watch:
Support: $177.88 (Recent low)
Resistance: $187.87 (Recent high)
Trade Signal:
Long Entry: Buy above $183 (breakout point from current range)
Short Entry: Sell below $177.50 (if price breaks the support zone)
Target Levels (🎯):
1. Target 1: $187 (Recent high, conservative target)
2. Target 2: $190.50 (Next resistance level)
3. Target 3: $195 (Extended target on bullish momentum)
Trade Momentum:
Bullish Momentum: If the price breaks and sustains above $183, it's expected to trend higher. Look for increased volume and confirmation above this level for more confidence in the upwards momentum.
Bearish Momentum: If price drops below $177.50 with increasing volume, it may trigger further downside toward $170 levels.
Always use proper risk management and watch for volume changes to confirm price direction.
