$SOL /USDT Monthly Chart Analysis: Trade Guiding Post
Trend Analysis: This monthly chart highlights SOL/USDT's significant price movements over time. Let’s break it down step by step:
1. Key Resistance & Support Levels:
The previous peak of $264.39 serves as a major resistance level. If the price approaches this, a breakout might indicate further bullish momentum.
The support near $84.43 has held strong in the past, acting as a pivot for price recoveries.
2. Moving Averages (MA):
The MA(7) at $171.90 and MA(25) at $100.12 show a bullish crossover on this timeframe, indicating upward momentum in the long term.
The steeper rise of MA(7) compared to MA(25) reflects increasing buying pressure.
3. Volume Insights:
Rising volume with the price going upward suggests strong interest from buyers, confirming a potential bullish trend.
However, declining volume after a peak could mean weakening momentum, so watch closely for any volume drop.
4. Current Momentum:
The price has bounced significantly from lows near $84.43, suggesting a strong recovery and bullish control.
Trading near $190.13 indicates a consolidation phase. Breaking above the recent high of $199.27 could indicate another upward leg, targeting $200–$220 in the short term.
Next 4-Hour Trend Prediction: Based on this chart and technical factors:
Trend Direction: Likely bullish.
If the price breaks $195-$200, expect the trend to rise further.
A failure to hold above $188 may trigger a pullback toward $170.
Should You Trade Based on This Analysis? Yes, but follow these key steps:
1. Entry Point: Look for a breakout above $195 for a long position or buy near $180 if price dips to the support zone.
2. Stop Loss: Set it below $175 to manage risk.
3. Target Levels: Aim for $210 as the first target and $225 as the second.
This analysis suggests a bullish trend, but always use proper risk management and trade within your comfort level. Analyze multiple timeframes for confirmation before entering a trade.
