$SOL/USDT has recently experienced a pullback to the $175–$178 range, aligning with the 0.618 Fibonacci retracement level. This zone often acts as a key support in trending markets. Despite the recent dip, the underlying fundamentals remain strong, and the network has consolidated its position as the second-largest decentralized exchange ecosystem globally.
Support Levels:
Primary Support: $177.35
Secondary Support: $173.62
Tertiary Support: $167.41
Resistance Levels:
Primary Resistance: $185–$189
Secondary Resistance: $200–$206
Tertiary Resistance: $220
Entry Zones:
Ideal Entry: $178–$182
This range aligns with the 0.618 Fibonacci retracement level and recent support levels, offering a favorable risk-to-reward ratio for potential long positions.
Take-Profit Zones:
TP1: $185
TP2: $200
These take-profit levels correspond to the identified resistance points, where price may face selling pressure.
Stop-Loss:
Suggested Stop-Loss: $173
Placing a stop-loss just below the secondary support level helps manage risk in case of unfavorable price movements.
$SOL is exhibiting a strong bullish trend, having recently surpassed its previous all-time high. With clear support and resistance levels identified, traders can consider entering near the $178–$182 range, targeting take-profit zones at $185 and $200, while setting a stop-loss around $173 to manage potential downside risk.