technical analysis for $SOL /USDT along with trade signals, including three target levels and trade momentum:
Current Price: $228.65
24h High: $230.51
24h Low: $203.21
Trend Analysis:
Short-Term Trend: Bullish
Medium-Term Trend: Bullish
Long-Term Trend: Neutral (watching for breakout above $230.51)
SOL has shown strong momentum in the last 24 hours, gaining +11.15%. The price is currently consolidating near its recent high of $230.51. We could see a breakout to the upside if this resistance is broken.
Support and Resistance Levels:
Support 1: $220.00 (Critical support for the current bullish trend)
Support 2: $210.00 (Strong support in case of a pullback)
Resistance 1: $230.51 (Key resistance; breaking this level will open higher targets)
Resistance 2: $240.00 (Target if the price sustains above $230.51)
Indicators:
Relative Strength Index (RSI): 65 (Approaching overbought, suggesting caution)
Moving Average Convergence Divergence (MACD): Bullish cross with increasing momentum.
Volume: Solid volume on recent bullish movement, supporting further upside.
Trade Signals:
Trade Entry:
Entry Point: Buy at $228.65 or pullback to $220.00 (Support 1).
Target Levels:
1. Target 1: $230.51 (Breakout above this level is key for further upside).
2. Target 2: $240.00 (If the momentum continues).
3. Target 3: $250.00 (Potential medium-term resistance level).
Stop Loss:
Stop Loss: $210.00 (Below Support 2, where the trend could reverse).
Trade Momentum:
The momentum is currently bullish, but the RSI is nearing overbought territory. A small pullback to support levels could present a better entry opportunity, especially around $220.00.
Recommendation:
Long Position with targets at $230.51, $240.00, and $250.00.
Watch for a break above $230.51 to confirm continuation of the uptrend.