TECHNICAL ANALYSIS SOLANA🔥🔥
SOL, with a current price of around $196, presents an interesting technical picture for a short to medium-term trade. After a phase of consolidation between important supports, SOL is showing signs of strength, with a potentially bullish trend, supported by an ascending triangle pattern that may herald a significant recovery.
Key supports are found in the area between $155 and $165, a level from which the token has shown solid bounces, while a stronger support is between $126 and $140. On the opposite side, important resistances are established between $180 and $188, with subsequent levels at $206 and $220, an area that could serve as a price target in the event of a breakout.
Technical indicators like RSI are in neutral territory, suggesting room for movement without excessive overbought or oversold conditions, while the MACD shows a need to confirm a bullish crossover to strengthen the positive momentum. The short and long-term moving averages remain supportive of the bullish trend.
For a strategic trade, I recommend:
Entry: $190 - $196
Stop loss: $170, to contain losses if the key support is broken
Take profit: $220, a realistic target close to technical resistances and areas of possible profit-taking
Always monitor volumes and key levels for any timely adjustments; I advise against entering a position with all the capital you wish to invest so you can better manage the position in case of sudden pullbacks.
Please always operate with low leverage and always set the stop loss.
