Technical Analysis of SOLUSDT (1D Chart - OKX)
Technical Analysis of SOLUSDT (1D Chart - OKX)
Trend Analysis & Market Outlook
The chart illustrates a downtrend, with the price currently trading near the lower support level.
Key resistance levels are observed at 239.03 and 295.82, indicating potential upside targets if a reversal occurs.
The Stochastic Oscillator appears to be in the oversold zone, suggesting a possible short-term bounce.
The volume profile suggests declining buying pressure, reinforcing the bearish sentiment.
Key Levels & Trading Strategy
Support & Demand Zone: A strong demand zone is located around 168-175 USDT, with a potential buy entry.
Resistance Levels:
Short-term: 214.36 USDT (TP1), 215.81 USDT (TP2)
Mid-term: 239.03 USDT (TP3), 264 USDT (TP4)
Long-term: 295.82 USDT (Major resistance & supply zone)
Risk Management & Trade Setup
Bullish Scenario: If the price holds above 175 USDT, a bounce towards 214-239 USDT could occur.
Bearish Scenario: A breakdown below 168 USDT could trigger further downside toward 140 USDT.
Stop Loss (SL): Suggested around 14 USDT below entry for risk control.
Final Conclusion
Primary Bias: Bearish (until price reclaims 215-220 USDT)
Short-Term Play: Watch for potential reversal signals near the demand zone (168-175 USDT).
Long-Term Positioning: A break above 239 USDT may signal a trend reversal.
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Trend Analysis & Market Outlook
The chart illustrates a downtrend, with the price currently trading near the lower support level.
Key resistance levels are observed at 239.03 and 295.82, indicating potential upside targets if a reversal occurs.
The Stochastic Oscillator appears to be in the oversold zone, suggesting a possible short-term bounce.
The volume profile suggests declining buying pressure, reinforcing the bearish sentiment.
Key Levels & Trading Strategy
Support & Demand Zone: A strong demand zone is located around 168-175 USDT, with a potential buy entry.
Resistance Levels:
Short-term: 214.36 USDT (TP1), 215.81 USDT (TP2)
Mid-term: 239.03 USDT (TP3), 264 USDT (TP4)
Long-term: 295.82 USDT (Major resistance & supply zone)
Risk Management & Trade Setup
Bullish Scenario: If the price holds above 175 USDT, a bounce towards 214-239 USDT could occur.
Bearish Scenario: A breakdown below 168 USDT could trigger further downside toward 140 USDT.
Stop Loss (SL): Suggested around 14 USDT below entry for risk control.
Final Conclusion
Primary Bias: Bearish (until price reclaims 215-220 USDT)
Short-Term Play: Watch for potential reversal signals near the demand zone (168-175 USDT).
Long-Term Positioning: A break above 239 USDT may signal a trend reversal.
Would you like additional indicators for deeper analysis? 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.