As of February 26, Solana (SOL) is trading at approximately $140.85.
Key Levels:
Immediate Support: $132.09 (recent low)
Immediate Resistance: $144.70 (recent high)
Suggested Trading Strategy:
✅ Bullish Scenario:
Entry Point: Consider entering a long position if the price breaks above the immediate resistance at $144.70 with strong volume confirmation.
Target Profit: Aim for a target range between $150 and $155.
Stop-Loss: Set a stop-loss just below the immediate support at $132.09 to manage potential downside risk.
✅ Bearish Scenario:
Entry Point: If the price fails to sustain above $140.85 and drops below $132.09, consider a short position.
Target Profit: Look for a decline towards the next support level around $125.
Stop-Loss: Place a stop-loss above $144.70 to protect against unexpected upward movements.
These strategies are based on current market conditions and key technical levels. It's essential to conduct thorough research and consider your risk tolerance before making any trading decisions.
*Disclaimer: Always consult with a financial advisor before making investment decisions.*
