Based on the provided chart (4-hour timeframe for the SOL/USDT pair): General Remarks:
1. Current price: $217.78.
2. Trend: the price shows sideways movement* with prevailing downward pressure in recent days, indicating uncertainty in the market.
3. Key levels: - Support: around 208–210 USDT (recent lows). - Resistance: around 225–230 USDT (recent local highs).
Potential trading scenarios:
1. Long (Buy): - Entry conditions: - Price holds above 210 USDT and forms a reversal pattern (e.g., double bottom or bullish pin bar). - Break above resistance at 225 USDT with volume confirmation. - Target: move toward the 230–240 dollar level. - Stop-loss: below 208 USDT.
2. Short (Sell): - Entry conditions: - Price loses support at 210 USDT and settles below it. - Appearance of strong bearish candles. - Target: drop to 192–198 dollars. - Stop-loss: above 220 USDT. Recommendation: The market is currently in a consolidation phase. For decision-making, it is better to wait for: - Break of a key resistance or support level - Additional signals from indicators (volume, RSI, and MACD).