SOL: Pullback in Uptrend
Trade setup: Price is in an Uptrend. Pullback near $160 support and long-term up trendline ($143) could be an attractive swing trend entry in Uptrend, with +25% upside to $200. Stop Loss (SL) level at $140.
Pattern: Pullback in Uptrend. Price remains in an Uptrend but has pulled back, which could present a 'buying dip' opportunity. Traders should look for the nearest support level where price could stabilize and resume its Uptrend. This support level could be a level where price bounced off of in the past, or a level that was previously resistance. (concept known as polarity).Learn to trade key levels in Lesson 3.
Trend: Short-term trend is Strong Up, Medium-term trend is Strong Up and Long-term trend is Strong Up.
Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $160.00, then $125.00. Nearest Resistance Zone is $200.00.
Pattern: Pullback in Uptrend. Price remains in an Uptrend but has pulled back, which could present a 'buying dip' opportunity. Traders should look for the nearest support level where price could stabilize and resume its Uptrend. This support level could be a level where price bounced off of in the past, or a level that was previously resistance. (concept known as polarity).Learn to trade key levels in Lesson 3.
Trend: Short-term trend is Strong Up, Medium-term trend is Strong Up and Long-term trend is Strong Up.
Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $160.00, then $125.00. Nearest Resistance Zone is $200.00.
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