SOL/USDT: Bullish Reversal Incoming!
Solana is showing strong signs of a potential bullish reversal on the 5-minute chart. After testing the support zone at $227.15, the price quickly rebounded, indicating upward momentum. Currently trading around $227.36, SOL could break out towards key resistance levels if this momentum holds.
š Key Levels
Support: $227.15
Resistance: $229.23, $229.37
š Trade Setup (Long Entry)
Entry: $227.20 - $227.40
Take Profit 1 (TP1): $229.23
Take Profit 2 (TP2): $229.37
Stop Loss (SL): $226.24
š Market Outlook
Solana is bouncing from a strong support zone, forming bullish candles. As long as it holds above $227.15, an upward breakout toward $229.37 is likely. Look for volume confirmation to strengthen the move.
ā Risk Management
Keep a moderate position size and always set a stop-loss to limit potential losses.
Once TP1 is hit, adjust SL to breakeven to secure profits.
If you found this analysis useful, like, share, and comment which pair youād like analyzed next!
