🚀🚀🚀🚀Technical Analysis & Trade Signal for $SOL /USDT🔥🔥🔥
Market Overview
Current Price: $189.04 (-5.21%)
24h High: $200.13
24h Low: $188.51
24h Volume: 2.05M SOL ($401.97M USDT)
Momentum: Bearish (Short-term correction in play)
Support & Resistance Levels
Support Levels:
Immediate Support: $188
Key Support: $180
Resistance Levels:
Immediate Resistance: $195
Key Resistance: $20
Trade Signal
Momentum: Bearish but oversold (RSI below 30). Possible bounce near strong support levels.
Entry Point: $189
Stop Loss: $185
Targets 🎯:
1. $195
2. $200
3. $210
Additional Insights
1. Volume Analysis: High trading volume indicates increased market interest, possibly signaling a trend reversal soon.
2. Trend Analysis: SOL is in a consolidation phase but nearing a critical support zone at $188. A break below may extend the bearish trend; however, recovery could target $200+.
3. Indicators: RSI suggests oversold conditions, while MACD is showing signs of potential bullish divergence.
Risk Management:
Stick to stop-loss levels to minimize risks.
Monitor overall Layer-1 ecosystem performance, as broader market sentiment may influence SOL’s recovery.