#solana Solana (SOL) 30-Minute Chart Trade Setup

The SOL/USDT chart reveals a clear uptrend with significant technical levels and a harmonic pattern providing trading opportunities. Here’s a detailed breakdown:

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Trend Analysis:

• Uptrend: Support level at $110.65, with a strong trendline strength of 3.1 and an angle of 13°. This level serves as a critical base for continued bullish momentum.

• Higher Timeframes: The trend on 50-200 bars confirms a robust uptrend with angles ranging from +17° to +25°, suggesting sustained buying pressure.

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Harmonic Pattern:

• Black Swan Pattern (Blue): The pattern has completed at point D, indicating a potential reversal or continuation based on market conditions. Traders should closely monitor price action around this zone for confirmation.

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Support & Resistance:

• Key Support: $110.65. A breakdown below this level could lead to a deeper correction toward the $109-$108 region.

• Key Resistance: Current price action near $124.56 is testing critical resistance. A breakout above this level could push prices toward $126.55 or higher.

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Entry & Stop-Loss Levels:

• Long Setup: Entry around $122.35, targeting $126.55, with a stop-loss at $117.64.

• Short Setup: Entry near $124.56, targeting $110.65, with a stop-loss at $126.55.

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Conclusion:

• The SOL chart reflects strong bullish momentum, but the Black Swan harmonic pattern suggests caution at resistance levels.

• Traders should wait for a breakout or rejection at key levels before entering trades, ensuring risk management aligns with the setup.

Stay sharp and trade safely with clear entry and exit strategies$SOL