🚨🚨🚨$SOL Recent Update 😳🚨🚨🚨
1. Resistance Level:
- The recent high at 163.80 acts as the resistance level. This is the price where selling pressure is expected to increase, preventing the price from rising further.
2. Support Levels:
- The recent low at 152.57 serves as the immediate support level. This is the price where buying pressure is likely to emerge, preventing the price from falling further.
- Another significant support level can be seen around 143.38, which aligns with the MA(99) level, indicating a strong historical support zone.
Break Condition
Break of Resistance:
- A break above the resistance level of 163.80, confirmed by a strong closing price above this level, would indicate a bullish breakout. This suggests that the upward momentum is likely to continue, potentially leading to higher price targets.
Break of Support:
- A break below the support level of 152.57, confirmed by a strong closing price below this level, would indicate a bearish breakout. This suggests that the downward momentum is likely to continue, potentially leading to lower price targets.
Additional Indicators
- Moving Averages:
- MA(7) is at 160.32, slightly above the current price, indicating a short-term resistance.
- MA(25) is at 151.73, which is below the current price, acting as a short-term support.
- MA(99) is at 142.97, which serves as a longer-term support level
Conclusion
- To summarize, for a bullish breakout, look for a confirmed break above 163.80 with increased volume. For a bearish breakout, watch for a confirmed break below 152.57 with increased volume. Monitoring the moving averages and order book sentiment can provide additional insights into the price action.
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