Coin Name: #SolanaUSDT
Signal Type: Long
Solana ($SOL) is currently positioned for a potential massive breakout, following a significant correction that brought the price back to a critical support zone. With the current market structure and Fibonacci-based technical analysis, this is an excellent opportunity to open long positions. Let's dive into the technicals and trade details for this exciting setup. 🚀
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📊 Technical Overview: SOL/USDT on 1D Timeframe
1. Golden Fibonacci Targets:
Trend-Based Fibonacci 1:1 Golden Ratio:
Positioned at $284, this is a key target that aligns with historical price movements and bullish continuation setups.
Fibonacci 1.618 Extension:
At $351, marking a 96% increase from the current levels, this represents the ultimate bullish target post-breakout.
2. Support Zone:
Current Price Level: $178
Solana is trading above a significant support zone, making this an ideal entry point for long trades.
3. BTC Dominance (BTC.D):
BTC Dominance has rejected from the Golden Fibonacci Ratio and closed the weekly candle below it.
This shift indicates a bullish altcoin market, as capital flows into alternative assets like Solana.
4. USDT Dominance (USDT.D):
USDT dominance faces Golden Fibonacci Resistance, signaling an impending dump that could further drive altcoin momentum.
5. TOTAL2 (Altcoin Market Cap):
TOTAL2 is expected to take support at the Golden Fibonacci Ratio and rally upwards this week, adding further bullish sentiment to the altcoin market.
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🚀 Trade Details
Entry Zone: Around $178
Take Profit Levels:
TP1: $284 (Golden Ratio Target)
TP2: $351 (1.618 Fibonacci Extension)
Stop Loss (SL): $170 (to protect against downside risks).
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📈 Why This Setup Is Bullish
1. Fibonacci Structure Alignment:
Solana’s trend-based Fibonacci levels#solana #Binance #Crrypto #BinanceLaunchpoolBIO