Analysis of SOLUSDT Perpetual Swap (30M - OKX)
Analysis of SOLUSDT Perpetual Swap (30M - OKX)
1. Trend Analysis
Mid-Term Uptrend but Weakening:
Price is still above EMA 100 and EMA 200, indicating a broader uptrend.
However, price is facing rejection from EMA 20, and a Sell Signal has appeared, suggesting increased selling pressure.
Recent movements indicate a potential retracement (pullback) or short-term reversal.
Hitting Resistance and Potential Correction:
The price was rejected from the supply zone at 244.75 USDT, which acts as a key resistance level.
Now, the price is pulling back and testing the support zone at 236.28 - 233.67 USDT.
2. Key Resistance Levels
🔴 Major Resistance Zones:
241.77 - 244.75 USDT: A supply zone where price was previously rejected. A breakout above this level could signal continuation.
249.98 USDT (Stop-Loss Zone): If price breaks this level, it may confirm a breakout for further upside.
3. Key Support Levels
🟢 Key Support Levels to Watch:
236.28 USDT (TP1 / Fib 0.382): First support level. If price holds, a potential bounce could happen.
233.67 USDT (TP2 / Fib 0.500): If the first support breaks, this would be the next key level.
231.06 USDT (TP3 / Fib 0.618): A deeper retracement zone where buyers may step in.
228.72 - 225.12 USDT: A strong support area for a potential major rebound.
4. Risks & Concerns
⚠️ Potential Risks to Monitor:
If price breaks below 236.28 USDT, further downside is likely.
EMA 20 is acting as resistance, which could lead to more selling pressure.
Volume is still weak → If no strong buying volume appears, the price could continue to fall.
5. Trading Strategy
✅ Long Scenario (Buy Entry):
Entry: Wait for a bounce from 236.28 - 233.67 USDT support zone.
Target 1: 241.77 USDT (EMA 20 Resistance)
Target 2: 244.75 USDT (Supply Zone Retest)
Stop-Loss: Below 233.00 USDT
✅ Short Scenario (Sell Entry):
Entry: If price rebounds but fails to break 241.77 - 244.75 USDT.
Target 1: 236.28 USDT
Target 2: 231.06 USDT (Fib 0.618 Zone)
Stop-Loss: Above 245.00 USDT
6. Summary
📌 SOLUSDT is still in an uptrend but facing increasing selling pressure.
📌 Key support is at 236.28 - 233.67 USDT. A break below could lead to 231.06 - 228.72 USDT.
📌 Major resistance is at 241.77 - 244.75 USDT. A breakout above could signal further gains.
📌 Trading Strategy: Wait for a bounce at support or short if price gets rejected at resistance.
🔎 Recommendation:
Confirm price action before entering trades.
If volume remains weak, further consolidation or correction is likely.
💬 Would you like a deeper analysis on any specific aspect? 🚀📊
1. Trend Analysis
Mid-Term Uptrend but Weakening:
Price is still above EMA 100 and EMA 200, indicating a broader uptrend.
However, price is facing rejection from EMA 20, and a Sell Signal has appeared, suggesting increased selling pressure.
Recent movements indicate a potential retracement (pullback) or short-term reversal.
Hitting Resistance and Potential Correction:
The price was rejected from the supply zone at 244.75 USDT, which acts as a key resistance level.
Now, the price is pulling back and testing the support zone at 236.28 - 233.67 USDT.
2. Key Resistance Levels
🔴 Major Resistance Zones:
241.77 - 244.75 USDT: A supply zone where price was previously rejected. A breakout above this level could signal continuation.
249.98 USDT (Stop-Loss Zone): If price breaks this level, it may confirm a breakout for further upside.
3. Key Support Levels
🟢 Key Support Levels to Watch:
236.28 USDT (TP1 / Fib 0.382): First support level. If price holds, a potential bounce could happen.
233.67 USDT (TP2 / Fib 0.500): If the first support breaks, this would be the next key level.
231.06 USDT (TP3 / Fib 0.618): A deeper retracement zone where buyers may step in.
228.72 - 225.12 USDT: A strong support area for a potential major rebound.
4. Risks & Concerns
⚠️ Potential Risks to Monitor:
If price breaks below 236.28 USDT, further downside is likely.
EMA 20 is acting as resistance, which could lead to more selling pressure.
Volume is still weak → If no strong buying volume appears, the price could continue to fall.
5. Trading Strategy
✅ Long Scenario (Buy Entry):
Entry: Wait for a bounce from 236.28 - 233.67 USDT support zone.
Target 1: 241.77 USDT (EMA 20 Resistance)
Target 2: 244.75 USDT (Supply Zone Retest)
Stop-Loss: Below 233.00 USDT
✅ Short Scenario (Sell Entry):
Entry: If price rebounds but fails to break 241.77 - 244.75 USDT.
Target 1: 236.28 USDT
Target 2: 231.06 USDT (Fib 0.618 Zone)
Stop-Loss: Above 245.00 USDT
6. Summary
📌 SOLUSDT is still in an uptrend but facing increasing selling pressure.
📌 Key support is at 236.28 - 233.67 USDT. A break below could lead to 231.06 - 228.72 USDT.
📌 Major resistance is at 241.77 - 244.75 USDT. A breakout above could signal further gains.
📌 Trading Strategy: Wait for a bounce at support or short if price gets rejected at resistance.
🔎 Recommendation:
Confirm price action before entering trades.
If volume remains weak, further consolidation or correction is likely.
💬 Would you like a deeper analysis on any specific aspect? 🚀📊
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.