Solana (SOL) Dips Below 150: Is a Rebound on the Horizon? 🔍*

Solana (SOL) has recently slipped below the150 mark, currently trading at approximately 147.61, marking a 3.38—

📊 Market Snapshot

- *Current Price*:147.61

- *24h Change*: -3.38%

- *Intraday Range*: 142.19 –154.30

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🔍 Technical Analysis

- *Support Levels*: Immediate support is observed around 140. A breach below this could see SOL testing the130 zone.

- *Resistance Levels*: On the upside, resistance is noted at 160. A sustained move above this could open the path toward178. [1]

- *Chart Patterns*: Analysts have identified a potential cup-and-handle formation, suggesting a bullish breakout if SOL can surpass the 160 resistance. [2]

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📈 Market Indicators

- *Volume*: Recent sessions have seen increased trading volume, indicating heightened investor interest.

- *Moving Averages*: SOL is currently trading below its 20-day and 50-day moving averages, signaling potential bearish momentum in the short term.

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🔮 Prediction and Analysis

While the recent dip below150 is noteworthy, the presence of strong support around 140 could provide a foundation for a potential rebound. If SOL manages to break above the160 resistance, it could target the 178 level in the near term. [1]

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📌 Targets

- *Immediate Support*:140

- *Short-Term Resistance*: 160

- *Mid-Term Target*:178

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🧠 Trading Strategy

- *For Long Positions*: Consider entering near the 140 support with a stop-loss slightly below this level. Target the160 resistance in the short term.

- *For Short Positions*: If SOL fails to hold above 140, short positions could target the130 support zone.

- *Risk Management*: Always use stop-loss orders to manage potential losses and protect capital.

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Stay informed and monitor key levels closely. The crypto market is dynamic, and timely decisions can make a significant difference.

$SOL

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