$SOL /USDT Technical Analysis and Trade Signals

Current Price: $226.48 (-5.26%)

Trend: Bearish (Short-term correction in a volatile market)

Support & Resistance Levels

Support 1: $221.61 (24h Low)

Support 2: $215.00 (Psychological and Fib retracement level)

Resistance 1: $239.08 (24h High)

Resistance 2: $245.00 (Key breakout zone)

Trade Setup

Short-term Trade Momentum: Bearish to Neutral

SOL is trading near a crucial support zone, with potential for a bounce or further decline.

Monitor $221.61; a break below could signal further downside.

Trade Signal:

1. Entry Point:

Long: Enter near $221–$223 if support holds and bullish momentum appears.

Short: Enter near $226–$228 if price rejects resistance with strong sell pressure.

2. Targets (🎯):

Target 1: $233.50 (Initial resistance and retracement level)

Target 2: $239.00 (24h High resistance level)

Target 3: $245.00 (Strong breakout zone)

3. Stop Loss:

Long: $215.00 (below key support)

Short: $240.00 (above resistance)

Momentum Indicators

RSI: Near 40 (Approaching oversold zone; potential bounce expected)

MACD: Bearish crossover; sellers in control.

Volume: High sell volume suggests current bearish sentiment, but watch for divergence.

Trade Strategy:

For Buyers: Accumulate around $221–$223 if price stabilizes, aiming for recovery to $233 or higher.

For Sellers: Short near $226–$228 with targets at $215–$218 if bearish momentum intensifies.

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