SOL is currently trading around the $204-$205 mark, showing clear signs of consolidation after a recent strong move up. Traders, this is a key moment! 📈
Here's the technical breakdown:
Resistance: A major hurdle lies at the $210-$215 zone, where the price has been rejected multiple times. A decisive break above this area is critical for further upside.
Support: Strong support is holding at the $195-$198 zone. Buyers have stepped in here to prevent a deeper correction.
What to Watch For:
Bullish Scenario: A confirmed breakout above $215 on high volume could open the path for a rally toward $230 and potentially even higher. 🚀
Bearish Scenario: A failure to hold the $195 support could lead to a test of lower levels, with the next major support around the $180-$185 range. 📉
The market is coiled, and a volatility spike is likely. Wait for a clear breakout confirmation before entering a trade to avoid getting caught in a fakeout.
Trade with caution and manage your risk! 📊
#SOL #CryptoTrading #TechnicalAnalysis #BinanceSquare #Solana $SOL
