#TradeStories #SOL #CryptoInsights #AltcoinSeason #BinanceSquare
Solana (SOL) is currently trading around 170.71 USD, with an increase of approximately 4.85% in the past 24 hours. This upward momentum brings SOL closer to a key resistance level at 175 USD, where more than 109 million USD in Short positions are waiting to be liquidated.
On the H4 chart, the EMA 20/50/100/200 lines are stacked in an upward direction, along with positive signals from the Ichimoku Cloud, indicating that the bullish trend is still maintained.
Proposed trading strategy:
Long when the price decisively exceeds 175 USD, set SL at 168.5 USD, TP aiming for 189–200 USD.
Wait to Long in the 158–160 USD range if there is a correction, SL at 153 USD, TP at 175–180 USD.
Short if the price fails to exceed 175 USD and shows signs of weakness, SL at 178 USD, TP at 165–160 USD.
With a strong increase in DeFi and NFT activity on the Solana platform, along with growing interest from investors, SOL has the potential to continue its upward trend in the near future.
