🔴SOLUSDT Trading Signal
Timeframe: 1 hour
Pair: SOL/TetherUS
Technical Analysis:
📈 Upward Trend Pattern: The price is moving within an upward trend pattern on the 1-hour frame, adhering to its boundaries well.
🔴 Resistance Area: A resistance area is identified at $140, where the price has touched and rebounded from.
📊 Moving Average: The price is stable below the 100-period moving average, indicating a potential bullish crossover.
📉 RSI Indicator: A downward trend on the RSI indicator supports further decline, with an RSI reading of 43.56.
Fundamental Analysis:
📊 Market Sentiment: Neutral, with a sentiment score of 0.52.
Candlestick Patterns:
🕯️ Bullish Engulfing Pattern: Identified on the 4-hour chart, indicating potential reversal.
🟢Entry Price: $135
🎯 Targets:
1. $132
2. $130.24
3. $128.40
🛑Stop Loss: $138.50
Risk Reward Ratio: 1:3
Disclaimer: DYOR and NFA.
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