$SOL Glows again: Is a journey towards $170 starting soon?
Technical Analysis – Currency #SOL/USDT – Time frame 4 hours (Binance)
Current price: 156.24 USDT
Highest price in 24 hours: 157.95
Lowest price: 146.16
Change in 24 hours: +6.81%
Comprehensive Technical Analysis:
RSI (6):
At 76.78 – in the overbought zone, indicating strong momentum, but we need to monitor for short corrections.
Bollinger Bands:
The price has broken the upper limit (157.81) and is trying to hold, indicating clear buying strength.
MACD:
Confirmed positive crossover, and the histogram is increasing – an excellent signal for continued upward movement.
Price Pattern:
Strong rebound from the bottom 140.21 with a regular upward wave, indicating the completion of a corrective upward movement towards resistance.
Professional Trading Plan:
Entry Areas: 🔹 First Entry: Between 155 – 157 USDT (current price)
🔸 Second Entry: In case of a correction towards 151 – 152 USDT
Targets (TP): First target: 162 USDT
Second target: 168 USDT
Third target (in case of strong breakout): 172 – 175 USDT
Stop Loss (SL): ❌ Below 149 USDT (last corrective candle low + below the middle MA)
Risk Management:
Profit to Loss Ratio: Between 1:2 – 1:3 depending on the entry point.
It is preferable to split the trade into two parts for a smart entry.
A great opportunity before the launch
