Based on the chart provided for SOL/USDT:
1. Current Price: $164.95, showing a 3.11% increase over the last 24 hours.
2. 24h Range: Price has fluctuated between $159.30 (low) and $171.76 (high).
3. Moving Averages: The price is hovering near the 7-period MA ($164.38), 25-period MA ($165.30), and 99-period MA ($165.71), indicating short-term resistance at these levels.
4. Trade Strategy:
Long Entry: Consider entering a long position if the price breaks above $167.50 (previous resistance), targeting $171.50.
Short Entry: A short trade can be considered if the price falls below $161.00 (recent support), targeting $157.00.
5. Stop Loss:
For a long trade, place a stop loss around $162.50 to minimize downside risk.
For a short trade, place a stop loss above $166.50.
Volume suggests some upward momentum, but price needs to break resistance for further confirmation.
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