$SOL /USDT Technical Analysis - Targets Update
Current Price: $186.01
Change: -4.24% (30m timeframe)
Solana ($SOL /USDT) is attempting a rebound after testing support levels. The price action indicates potential for upward movement with key resistance levels ahead. Here are the three targets for this setup:
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First Target: $190 (Immediate Resistance)
Analysis:
A key resistance level just above the current price. A breakout from this level could signal a short-term bullish trend.
Action Plan:
Monitor price action closely near $190 for confirmation. Partial profit-taking is recommended.
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Second Target: $195 (Key Resistance Zone)
Analysis:
Close to the 24h high of $194.57, this level is significant for confirming a sustained upward move.
Action Plan:
Adjust stop-loss to $188 and secure profits near $193-$195. Look for increased volume as a breakout confirmation.
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Third Target: $200 (Psychological Resistance)
Analysis:
Breaking the psychological barrier of $200 would signal strong bullish momentum, potentially attracting additional buyers.
Action Plan:
Trail stop-loss higher to protect profits and monitor for potential pullbacks near $200.
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Support Levels to Watch:
$184: Immediate support level based on recent consolidation.
$177.88: 24h low, acting as a strong support level for deeper corrections.
Trading Strategy:
Set a stop-loss below $182 to manage downside risks.
Use trailing stops after hitting each target to maximize gains.