SOL / TetherUSLong
SOL Breaks $200: Bulls Eye $234-$245 in Markup Phase
SOL/USDT 4H Chart Analysis
Market Structure:
SOL is trading at $220, maintaining a strong bullish setup after breaking the key $200 resistance level.
Market makers have transitioned from accumulation to markup, signaling a push toward higher price levels.
Key Levels:
Momentum:
Trade Setup:
Market Maker Activity:
Considerations:
This setup indicates a strong bullish outlook with clear targets at $234 and $245, backed by institutional activity and technical confirmation.
Market Structure:
SOL is trading at $220, maintaining a strong bullish setup after breaking the key $200 resistance level.
Market makers have transitioned from accumulation to markup, signaling a push toward higher price levels.
Key Levels:
- Support:
- Primary: $200 (recently broken resistance turned support).
- Secondary: $188 (major consolidation zone).
- Resistance:
- T1: $234 (premium zone).
- T2: $245 (extension target).
Momentum:
- RSI: Hidden bullish divergence observed during recent consolidation, confirming upward momentum.
- Volume: Strong volume confirms institutional buying pressure and a likely continuation of the uptrend.
Trade Setup:
- Entry: Current levels ($220-$222) or on pullbacks to $215.
- Targets:
- T1: $234.
- T2: $245.
- Stop Loss: Below $208 (recent consolidation support).
- Risk-to-Reward: Favorable setup, especially given the strong volume and clear breakout.
- Confidence Level: 8/10 for bullish continuation.
Market Maker Activity:
- Market makers have likely completed accumulation in the $188-$200 range, as indicated by volume and price behavior.
- Expectation: A continued push toward the premium zone ($234) before potential distribution begins.
Considerations:
- Pullbacks: Watch for buying opportunities near $215 if the price retraces briefly.
- Volume confirmation: Ensure continued strong volume near $234 to support further upside.
- Premium zone reaction: Monitor price action near $234-$245 for potential distribution or consolidation.
This setup indicates a strong bullish outlook with clear targets at $234 and $245, backed by institutional activity and technical confirmation.
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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.