technical analysis and trade signal for $SOL /USDT with three target levels and momentum:
Current Price: $183.32
24h High: $194.39
24h Low: $183.26
Trend: The price has shown a decline of 3.57% in the last 24 hours, indicating bearish pressure.
Support Level: The key support is near $183.26 (recent low), and if this breaks, it could lead to further downside.
Resistance Level: The resistance is near $194.39 (24h high), which might limit any short-term upside.
Key Indicators:
RSI: Currently at 35 (near oversold), indicating a potential reversal to the upside.
MACD: The MACD is showing bearish momentum, but it could be nearing a crossover for a potential buy signal soon.
Moving Averages: The price is currently below the 50-period moving average, confirming the bearish short-term trend.
Volume: There’s a moderate volume, suggesting consolidation or preparation for a potential move.
Trade Signal:
Entry: Consider entering the market at $183.30 to $183.50, near the support zone.
Stop-Loss: Set your stop-loss around $180 to minimize risk in case the price breaks lower.
Target Levels:
Target 1: $188.00 (First resistance zone)
Target 2: $190.50 (Mid-range resistance)
Target 3: $194.00 (Strong resistance at the 24-hour high)
Trade Momentum:
The market shows signs of possible short-term reversal after hitting oversold conditions. If price action breaks above the resistance at $188, momentum could shift to bullish, with targets at $190.50 and $194.
However, if SOL fails to break $188 and instead falls below $183.26, further downside risk exists, and a bearish trend could continue.
