💰 #Solana (SOL/USDT) Analysis
Solana is currently approaching a major support zone around $120, which has historically acted as a strong level for price reversals. The current downtrend is likely a correction phase before a potential bullish recovery.
🔹 Key Observations:
Support Level: The $120 zone is a critical area where buyers could step in.
Bullish Recovery Expected: A bounce from this level could push SOL towards key resistance targets.
Potential Double Bottom Formation: If price reacts positively, we might see a reversal pattern forming.
🔹 Entry Strategy:
Primary Entry: Around $120 if price shows a bullish reaction.
Breakout Entry: Consider adding if price breaks above $222 for confirmation of a trend shift.
🔹 Target Levels:
T1: $222.90
Final Target: $316.01
📉 Risk Management:
Stop-loss below $110 to limit downside risk.
🚀 SOL could see a significant bounce if buyers defend the $120 area!
#Solana #Crypto #SOLUSDT #Trading 🚀
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Solana is currently approaching a major support zone around $120, which has historically acted as a strong level for price reversals. The current downtrend is likely a correction phase before a potential bullish recovery.
🔹 Key Observations:
Support Level: The $120 zone is a critical area where buyers could step in.
Bullish Recovery Expected: A bounce from this level could push SOL towards key resistance targets.
Potential Double Bottom Formation: If price reacts positively, we might see a reversal pattern forming.
🔹 Entry Strategy:
Primary Entry: Around $120 if price shows a bullish reaction.
Breakout Entry: Consider adding if price breaks above $222 for confirmation of a trend shift.
🔹 Target Levels:
T1: $222.90
Final Target: $316.01
📉 Risk Management:
Stop-loss below $110 to limit downside risk.
🚀 SOL could see a significant bounce if buyers defend the $120 area!
#Solana #Crypto #SOLUSDT #Trading 🚀
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Subscribe to my Telegram Channel 👉 :
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Subscribe to my X 👉 : x.com/VIPROSETR
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.