#solana
Advanced technical analysis for the next 8 hours :
1. Current Price: 189.20 is below the 23.6% level (192.19), indicating potential resistance.
2. Support: The price is near the low (175.26), which may act as strong support.
3. Resistance Levels: 192.19 (23.6%) and 202.66 (38.2%).
Advice:
1. Short Position: If the price fails to break above 192.19 convincingly and shows bearish patterns, consider a short position targeting 175.26.
2. Long Position: If the price breaks above 192.19 with strong volume, a long position targeting 202.66 or higher could be reasonable.
Watch for confirmation signals (e.g., candlestick patterns, RSI/MACD divergences) before entering trades. Adjust stop-loss levels based on volatility.
