SOL/USDT Technical Analysis: Bullish Flag Breakout and Potential for 100% Growth
SOL/USDT is currently trading at $24.20, and after the recent breakout of a bullish flag pattern, the cryptocurrency is in a bullish mode. The analyst had already given an entry around $20, which is already up by 12%.
The analyst predicts that the price may retract to around $21-$22, which could be a good entry point. After this retracement, the analyst expects the price to fly towards $30 or $40, which is approximately 100% growth from the breakout level.
Here are the technical analysis details:
Entry: $21-$22 Targets: $30/$40 Stop Loss: Any 4-hour candle close below $20.50
It's important to remember to manage risk in every trade and to conduct your own research before investing in any coins. This information is not financial advice.
Takeaways:
SOL/USDT has broken out of a bullish flag pattern, indicating a bullish mode.
The analyst suggests an entry point of $21-$22, with potential targets of $30 or $40.
The stop loss is any 4-hour candle close below $20.50.
Risk management is crucial in every trade, and individual research is recommended.
Conclusion:
SOL/USDT has recently broken out of a bullish flag pattern, and the analyst predicts potential growth of up to 100% from the breakout level. However, it's important to manage risk and conduct individual research before investing. The suggested entry point is $21-$22, with potential targets of $30 or $40, and the stop loss is any 4-hour candle close below $20.50.
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