Gk_Aronno
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SOL/USDT May SOL lose the weekly support? Key Level to buy!
$SOL
Hey traders! 👋 Let’s dive into the weekly chart for SOLUSDT.
📊 Current Price Action:
SOL is trading at $112.20, down 10.96% on the weekly chart. The price has been consolidating in a "Buying Zone" between the weekly support levels of $110.17 and $131.68. This zone has historically acted as a strong base, with the price bouncing from this area multiple times since late 2023.
🟢 Buying Zone and Support:
The current price is sitting in a critical "Buying Zone" between $110.17 and $131.68. This area has acted as a springboard for previous rallies, and if SOL holds above $110.17, it could be a good opportunity for accumulation. A break below $110.17, however, might lead to further downside toward the next support at $80.18 or even $54.00.
🎯 Target:
If SOL manages to break through the $195.71 resistance, the next major target is its previous ATH at $260. I’ve projected a potential move to $295.71, which would be a 95.71% increase from the current price of $112.20. This target aligns with the historical price structure and Fibonacci extensions.
⚠️ Risk Management:
Keep an eye on the $110.17 support. A weekly close below this level could signal bearish momentum, potentially driving the price toward lower supports. On the upside, watch for a strong breakout above $195.71 with high volume to confirm the bullish scenario.
What do you think about SOL’s setup? Are you bullish or bearish on Solana? Let’s discuss in the comments!
#SOLUSD #Solana #Crypto #TechnicalAnalysis #Breakout
Hey traders! 👋 Let’s dive into the weekly chart for SOLUSDT.
📊 Current Price Action:
SOL is trading at $112.20, down 10.96% on the weekly chart. The price has been consolidating in a "Buying Zone" between the weekly support levels of $110.17 and $131.68. This zone has historically acted as a strong base, with the price bouncing from this area multiple times since late 2023.
🟢 Buying Zone and Support:
The current price is sitting in a critical "Buying Zone" between $110.17 and $131.68. This area has acted as a springboard for previous rallies, and if SOL holds above $110.17, it could be a good opportunity for accumulation. A break below $110.17, however, might lead to further downside toward the next support at $80.18 or even $54.00.
🎯 Target:
If SOL manages to break through the $195.71 resistance, the next major target is its previous ATH at $260. I’ve projected a potential move to $295.71, which would be a 95.71% increase from the current price of $112.20. This target aligns with the historical price structure and Fibonacci extensions.
⚠️ Risk Management:
Keep an eye on the $110.17 support. A weekly close below this level could signal bearish momentum, potentially driving the price toward lower supports. On the upside, watch for a strong breakout above $195.71 with high volume to confirm the bullish scenario.
What do you think about SOL’s setup? Are you bullish or bearish on Solana? Let’s discuss in the comments!
#SOLUSD #Solana #Crypto #TechnicalAnalysis #Breakout
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
SOL
147.36
-0.25%