Long

SOL’s Golden Zone: $217-$213 The Perfect Long Setup?

SOL is still in a corrective phase, with the 0.618 Fib retracement of the entire wave at $217.27 yet to be tested. This level aligns with key technical confluences, making it a critical zone to watch.

Recent Price Action & Short Trade Recap:

Today, SOL retested the pwdOpen, aligning perfectly with the Point of Control (POC) and the 0.618 Fib retracement of the smaller downward wave, making it an ideal short entry
The reaction was significant, but now the focus shifts to whether $217 will finally be tested

Long Trade Setup:

Entry Zone: $217 - $213
Stop Loss (SL): Below $210
Take Profit (TP): $260, targeting the next major resistance level

Why This Setup is High-Probability:

1.) Fibonacci Confluence:

The 0.618 retracement of the full wave at $217.27 is a key level where buyers may step in

Weekly Support at $213.35 adds strength to this demand zone

2.) Liquidity Sweep Potential:

A dip into $217-$213 could liquidate long positions, setting up a strong reversal if buyers reclaim control

3.) Upside Targets:

2021 all-time high (ATH) and beyond

Final Thoughts:

Key Levels to Watch: $217-$213 for long confirmation
Look for volume confirmation and bullish reaction before entering
If SOL holds above $217, this setup could provide an excellent R:R trade

This could be a golden opportunity for a high-conviction long. Let’s see how SOL reacts! 🚀🔥

SiDec

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SiDec