Current price: around $163-183
Daily trend: Slight rise (+1.2% to +3.35% over 24 hours), with recovery of the $170 level, indicating cautious bullish momentum.
Support and resistance levels:
Support: $160-165 (strong accumulation area according to chain data).
Resistance: $186-193 (near Fibonacci level 0.618).
Technical indicators (daily timeframe):
RSI (14): ~47 (Neutral, approaching overbought territory).
MACD: -0.06 (Sell signal, weak bearish momentum).
STOCH (9,6): ~55 (Buy signal, slight bullish momentum).
Moving averages: Strong sell signals (MA5, MA10, MA20, MA50, MA100, MA200 indicate sell).
Patterns:
Potential rounded bottom pattern (2-day timeframe), suggesting a bullish target at $340-350 if the breakout continues.
Active ABC correction may push the price to test support at $160.
Recommendations:
Buy: on breaking $185 with a target of $200-220, and a stop loss at $160.
Sell: on breaking support $160 with a target of $150-140, and a stop loss at $165.
Notes:
The market shows volatility, with strong support at $160-170 due to whale accumulation.
Monitoring potential ETF fund news may boost bullish momentum.
Summary: Solana is in a neutral zone with a slight bullish inclination. Breaking $185 may lead to a strong rise, but breaking $160 could reinforce the correction. Trading cautiously with strict risk management is essential.
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