The $SOL /USDT pair is currently trading at $196.02, experiencing an 8.83% drop in the last 24 hours. Short-term bearish sentiment is evident as the price trades below the 7-day ($196.81) and 25-day ($211.29) moving averages. However, the long-term MA(99) at $168.13 indicates a solid uptrend foundation.
Key Levels to Watch:
Support: $180.62 and $168.13 remain crucial zones. A bounce here could spark a recovery.
Resistance: Immediate resistance is at $211.29, with $241.05 as the next breakout target.
Strategy:
Short-term traders can look to buy near $180 with a stop-loss below $175, aiming for $211. Long-term investors may accumulate near $168, targeting a breakout above $241.
With volume moderate and indicators pointing to potential oversold conditions, patience is key. Watch for a breakout above $215 for confirmation of renewed bullish momentum.
