Solana (SOL) Trading Analysis and Signals (Approximately 200 words)
Market Overview:
Solana is currently trading around $199, with a daily high of $199.41 and a low of $187.07. Coin market statements indicate that SOL has a strong sentiment in the short term.
According to technical analysis, SOL attempted to break through the resistance zone of $211–225 but was unsuccessful. If this zone breaks, the price could reach $222, while on the downside, $202 and $189 are key support levels. CoinCodex, however, notes that some analysts are observing a bearish engulfing candlestick pattern (bearish reversal), which could signal a drop to $138–$152. CCN.com
Trading Signals (Entry / SL / TP):
Entry: $200 — in case of resistance break
Stop Loss (SL): $189 — to prevent losses below the support level
Take Profit Levels:
TP1: $211
TP2: $222
TP3: $240
TP4: $262 — if strong bullish momentum persists
Summary:
Solana has tested the $200 near-term level. If the price successfully breaks the range of $211–225, it could reach targets of $222 and above in the event of a rally, especially with DeFi/NFT adoption and ETF developments—such as the recently launched Solana-based SSK ETF that also offers staking capabilities. MarketWatchIndiatimes+1 However, if the bearish pattern is confirmed, a sell-off (correction) is also expected.