$SOL
1. Technical Pattern:
• The chart is forming a symmetrical triangle pattern, with resistance near 225.21 and rising support from the 204.47 area.
• This is a continuation pattern, which could lead to a strong breakout once the price breaks out of the triangle.
2. Support and Resistance Levels:
• Major Resistance: 225.21 (recent old peak), if broken, the price could head towards 226.73 or higher.
• Nearest Support: 215.60 and triangle support around 204.47.
• Deeper Support: 193.34 (previous low).
3. Trading Strategy:
• Long:
• Buy if the price breaks above 225.21 with high volume. Target: 230 - 235.
Short:
Sell when price breaks support at 204.47. Target: 200 - 193.
4. Indicators to watch:
• Volume: Should spike when price breaks.
• RSI: Check if price is in overbought/oversold zone to confirm signal.
5. Conclusion:
• If price stays in triangle and approaches top, need to pay attention to breakout.
For now, priority is to monitor to confirm direction before entering order.
Need more indicator analysis or comments?
