💥$SOL /USDT Approaching Resistance After a Bearish Correction!🔥
🌟Current Price: 150.28 USDT
🌟24-Hour High: 153.17 USDT
🌟24-Hour Low: 147.75 USDT
Volume (24H):
🌟SOL: 1.79M
🌟USDT: 267.99M
⚡SOL has retraced and is trading near the 150 USDT level. It’s testing resistance marked by the yellow trend line—a pivotal area for potential breakout or further retracement.
⚡Technical Indicators 🔎
1. Bollinger Bands: Moderate narrowing indicates decreased volatility; watch for breakout signs.
2. RSI: Neutral but nearing oversold territory; this could fuel a short-term rebound.
3. MACD: Weak bearish divergence; keep monitoring for a bullish crossover near support levels.
4. Resistance and Support:
Resistance: 153 USDT
Support: 147.75 USDT
⚡Trading Setup 📝
🎖️Bullish Scenario
Type: Rebound Trade
👉Entry Point: Above 150.50 USDT (confirmed rebound).
👇Take-Profit Targets:
🎯TP1 (1:1): 152 USDT
🎯TP2 (1:2): 153 USDT
💢Stop Loss: Below 149 USDT
🎖️Bearish Scenario
Type: Breakdown Trade
👉Entry Point: Below 149 USDT (confirmed rejection).
👇Take-Profit Targets:
🎯TP1 (1:1): 147 USDT
🎯TP2 (1:2): 146 USDT
💢Stop Loss: Above 150 USDT
⚡Risk Management Strategy ⚠️
For Bullish Setup, once TP1 (152 USDT) is hit:
Adjust Stop Loss to Breakeven.
Secure partial profits (50%) while holding for extended targets.
For Bearish Setup, upon achieving TP1 (147 USDT):
Move Stop Loss to Entry Price.
⚡Key Observations ✍️
1. Monitor volume trends to confirm breakout or pullback moves and avoid false signals.
2. The 153 USDT resistance zone is pivotal; breaching it could signal extended bullish movement or further consolidation.
3. Disciplined entries, exits, and risk management are vital in such a volatile phase.
Buy Or Trade With Me On $SOL