SOL/USDT Analysis and Trading Strategy

The current price of SOL/USDT is 194.87, up 5.20% in the past 24 hours. Below is a detailed analysis:

1. Trend:

On the 1-hour timeframe, SOL/USDT is maintaining an upward trend with green candles crossing above the short-term MA.

RSI (63.86) indicates that upward momentum is still present but caution is needed regarding overbought levels.

The MACD line and the Signal line are trending upwards, confirming the short-term bullish trend.

2. Key Levels:

Support: 187.00

Resistance: 196.10

3. Trading Strategy:

Entry Point: 192.50 - 194.00 when the price slightly retraces near the support level.

Take Profit: 199.50, near the higher resistance level.

Stop Loss: 186.50, below the important support level.

4. Note: Watch the trading volume to confirm the strength of the current price increase.

#SOL #CryptoTrading #SOLUSDT