Current Market Structure
SOL/USDT is trading at $226.86, showing a +0.93% increase. Price action remains above MA200 ($214.94), maintaining a strong bullish trend despite recent consolidation.Key Price Levels
Major Resistance: $260.00 (recent high)
Minor Resistance: $240.00 (psychological level)
Major Support: $200.00 (key demand zone)
Minor Support: $220.00 (immediate support)
Technical Indicators
RSI (14): Currently at 35.42, approaching oversold territory
MACD: Showing bearish momentum with values (-1.40, -1.77, -3.18)
Volume Profile: Steady volume at 627.016K indicating active trading
Volume showing consistent market participation
Key accumulation zone between $220.00-$230.00
Distribution detected near recent highs
Market Outlook
While experiencing short-term weakness, SOL maintains bullish structure above MA200. The current pullback presents potential buying opportunities near support levels. Key resistance at $240.00 needs to be reclaimed for renewed upward momentum. The formed support zone around $220.00-$200.00 remains crucial for maintaining bullish bias.
