$SOL /USDT 4H Analysis

Current Price: $188.22 (-4.30%)

Timeframe: 4H Chart

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Key Observations:

Price Action: SOL is in a corrective phase after testing the $200 resistance level, indicating potential short-term bearish momentum.

Support Zone: Strong support is visible near $185, which aligns with recent price consolidations.

Resistance Zone: Immediate resistance stands at $200, with a breakout leading to higher targets.

Trend: Current trend shows a downward pullback within an overall upward trajectory in higher timeframes.

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Trade Recommendations:

1. Long Position:

Entry: $185 (at the support zone or on confirmation of reversal patterns)

Target Levels:

Short-Term: $195

Mid-Term: $200

Extended: $210

Stop Loss: $180 (below the support zone to minimize risks)

2. Short Position:

Entry: $190 (on rejection from resistance or continuation of bearish momentum)

Target Levels:

Short-Term: $185

Mid-Term: $180

Extended: $175

Stop Loss: $195 (above the resistance zone)

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Predictions and Strategy:

A break above $200 could trigger significant bullish momentum, targeting $210 and beyond.

Conversely, failure to hold $185 could lead to a deeper correction toward $175.

Risk Management:

Partial profits are recommended at each target level. Adjust stop losses to breakeven as the trade moves in favor.

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Technical Outlook:

This setup offers both long and short opportunities depending on price action at key levels. Monitor volume and candlestick patterns closely for confirmation.

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