🚀 SOL / USDT 15-Minute Breakdown: Potential Breakout Above $195?

$SOL

🔷SOL / USDT

• Current Price: $192.93

• 24-Hour Change: +9.35%

• 24-Hour High: $201.98

• 24-Hour Low: $175.83

• 24-Hour Volume (SOL): 6,174,772.10 SOL

• 24-Hour Volume (USDT): 1,177,211,210.03 USDT

Market Analysis (15-Minute Timeframe)

Support Levels:

1. $190.50 - This is a short-term support level that was tested earlier today. If the price drops below this level, it could indicate further downside movement.

2. $188.00 - A stronger support where the price has bounced off in the past few hours.

Resistance Levels:

1. $195.00 - A key resistance that the price struggled to break above earlier today. If the price pushes past this, we could see a breakout.

2. $200.00 - The psychological resistance level; a break above this would signal further bullish movement.

Market Sentiment:

• Long: The market sentiment is leaning slightly bullish, with a 57.10% long position and a 42.90% short position. This indicates that most traders expect further upward movement, but caution is required as the market is still showing some resistance.

• The relative strength index (RSI) is approaching the overbought zone, suggesting the possibility of a pullback before a potential move upwards.

Trade Setup

🟩Long

♻️Leverage: 10x

👉Entry: $193.50 (around current price level)

🎯Target:

• $195.50 (initial target)

• $198.00 (secondary target)

• $200.00 (final target)

🔻Stop Loss: $190.00 ⛔