SOLUSDT ANALYSIS UPDATE📌
Resistance Levels: $183.4 and $188.3
Support Levels: $173.0 and $159.
There's a clear resistance of the sideways range with gradually narrowing borders on the chart, indicating consolidation before further strong movement.
The price reacts aggressively to the resistance, followed by a strong decline to the lower boundary.
Trade Ideas:
- Consider long positions on SOLUSDT for long-term, targeting $6.80 to $10.
- Buy opportunities near the demand zone between $173.0 and $159.
- Short positions with targets at $165, $155, $148, and $133.
Some analysts predict a bullish trend reversal, with a potential target price of $188.4-$188.3, while others warn of a potential drop.
The Bitcoin Dominance chart shows a ratio of its market cap to cumulative market cap of cryptocurrencies, which is a great way to see how big a coin is relative to the whole crypto market.
Key Factors to Watch:
- Breakout above $188.3 could confirm bullish trend.
- Breakdown below $173.0 may activate sell-off phase.
- US election date or related events may impact market.
Keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. Always do your own research and consider multiple sources before making investment decisions.
