a short technical analysis and trade signal for $SOL 💯🔥
/USDT, based on the provided data:
🔍 Technical Analysis (Short-Term)
Trend: Bearish momentum (-3.24% daily change)
Support Level: $141.50 (strong demand zone)
Resistance Zone: $154.00 – $155.00
Momentum: Currently weak, RSI likely below 50 (oversold territory approaching)
Volume: Healthy (566M USDT), indicating strong interest despite pullback
📢 Trade Signal: LONG (Buy the Dip)
Entry Zone: $146.00 – $148.00
Stop Loss: $140.00 (below strong support)
Risk Level: Moderate (volatile zone with downside risk if BTC corrects)
🎯 Target Levels
Target 1: $152.00 (short-term resistance)
Target 2: $155.00 (recent high & strong resistance)
Target 3: $160.00 (breakout extension if volume increases)
⚡ Trade Momentum
Current Momentum: Weak but potential reversal near support
Watch for: RSI crossing 50, bullish engulfing on 1h/4h charts, and rising volume for confirmation
Note: Monitor BTC and overall market sentiment. Avoid over-leveraging due to potential volatility.