🚨 SOLV/USDT: Is the Base Built or More Consolidation Ahead? A Chart Deep Dive!

Market Outlook: After a prolonged period of consolidation, during which SOLV defended the $0.040 support zone, recent price action indicates a potential base-building phase.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Look for a confirmed breakout and candle close ABOVE the $0.0450 resistance zone on a higher timeframe (e.g., 4H or Daily) with significant volume. A successful retest of this level as support could offer a higher-probability entry.

💰Targets: $0.0470, $0.0500, and potentially toward the longer-term resistance around $0.0540.

🛑Stop Loss: Below the breakout candle's low or below the nearest significant support at $0.0428.

🟥 Short Entry Trigger: Consider a short if the price breaks BELOW the key support level of $0.040 with a closing candle on a higher timeframe. This would confirm a continuation of the previous bearish pressure and invalidate the current base-building phase.

💰Targets: $0.0380, $0.0360, and toward previous lows.

🛑Stop Loss: Above the swing high of the breakdown candle or above the recent consolidation high.

Your Action Plan:

01 - Wait for Confirmation: Do not enter a trade until a clear breakout or breakdown is confirmed by a candle close on your chosen timeframe. The current consolidation means a move in either direction is plausible.

02 - Use a Stop-Loss: Always protect your capital. A stop-loss is not optional; it is essential for managing risk in volatile assets like SOLV.

03 - Manage Your Risk: Consider position sizing appropriate for your risk tolerance. Do not over-leverage, especially given the recent volatility and the potential for continuation of the downtrend if support fails.

📢 What are your thoughts?

Vote: Do you think SOLV will break out of its current consolidation to the upside or fall back toward previous lows?

Breakout to Higher Highs

Fall Back to Lows

Comment: Share your analysis below!