$SOL

SOL/USDT Technical Analysis – Support, Resistance & Entry Strategy

Current Price: 181.95 USDT

Solana (SOL) is currently trading at 181.95 USDT, and the chart suggests an exciting potential for both bullish and bearish strategies. The immediate support for SOL is seen around 175.00 USDT, where the price has previously shown strong demand. If the price pulls back to this level, it could present a solid buying opportunity.

On the upside, the resistance is located at 190.00 USDT, a level that has capped price action in recent attempts. A breakout above this resistance could see SOL targeting 200.00 USDT and higher in the near term.

Entry Strategy:

Bullish Entry: Watch for a price pullback to the 175.00 USDT support zone, and enter on signs of reversal (bullish candlestick patterns). The target would be 190.00 USDT for short-term profits.

Bearish Setup: If the price fails to hold 175.00 USDT and breaks below, consider waiting for a lower support around 165.00 USDT.

Monitor volume for signs of accumulation or distribution and always ensure to place a stop-loss just below the key support levels to manage risk.

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