š ļø Updated Strategy for Spot Trading SOL
1. Technical Snapshot
Current price: ~$180
Immediate resistance: $182ā184 (intraday highs) and broader resistance at ~$185ā186
Support levels:
Near-term: ~$169 (1st support), ~$164 (2nd support), ~$160 (3rd support)
Stronger base: ~$158ā155 zone
2. Entry Guidelines
Buying dips: Consider spots between $170ā$175, especially if it retests and holds around $169ā165.
Breakout entries: If SOL decisively breaks and closes above $186 (ideally on good volume), it could prime a move toward $200 .
3. Profit Targets
Near-term: $185ā186 (resistance zone).
Next leg up: $200 psychological mark, followed by $212ā220 based on Fibonacci and chart structure .
4. Risk Management
Stop-loss:
Below $169 (intraday support) if entering around current price.
Tighter entry (e.g., $180 buy): stop $175).
Position sizing: Start with a partial entry, then scale in on dips or confirmed breakouts.
5. Trading Style
Swing trades: Use support/resistance levelsābuy the dip to $165ā170, sell near 185ā186.
Trend following: Cut losses quickly; let winners run if Broke above $186 with momentum .
6. Macro & Sentiment Context
Institutional accumulation is building: SOL included in hedge funds like Asymmetric; growing infrastructure like futures on CME .
Technical structure shows bullish signsāovercoming daily resistance around $166ā$168 and moving average crossovers .
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ā Summary
Scenario Action
Dip toward $170ā175 Accumulate
Breakout above $186 with volume Enter breakout
Price near $185ā186 Take profits
Price falls below $169 Cut losses