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SOL/USDT 4H Technical Update โ Key Levels in Play!
SOL is currently trading around $204.86, showing signs of consolidation within a defined range as highlighted on the chart. Hereโs the breakdown:
Chart Structure & Price Action
Price is forming a rising support trendline from recent lows, indicating buyers are still protecting this zone.
Resistance remains near the $210โ$215 area, where previous attempts to break higher were rejected.
Support zone is seen around $195โ$198, which has held strong in recent pullbacks.
What Traders Should Watch
Bullish Scenario: A breakout above $215 with strong volume could open the door for a rally towards $230โ$240 in the short term.
Bearish Scenario: Failure to hold the $195 support zone may push price back toward $180โ$185.
Market Sentiment
Price structure suggests an upcoming volatility spike, likely resulting in a breakout move. Keep an eye on volume confirmation for directional bias.
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Trader's Tip
"Always wait for breakout confirmation before entering a trade โ avoid chasing price inside consolidation zones!"
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