Will SOL break $210 or plunge to $190? Captain reveals the "line of life and death", a must-read for September!
Brothers! Today we won't talk nonsense, let's get straight to the point! SOL is currently $203, will it surge to $210 or plunge to $190? After reading this, you'll have a clear idea!
First, take a look at this "treasure map". Strong support is at $200.35, secondary support at $200.80, these two positions act like a "moat", breaking them could trigger a "stampede-like decline"! Meanwhile, the upper resistance at $207.82 and $210.03 are like two mountains; if we get past them, it's a "new continent", but if we can't, we have to "retrace and gather strength".
But don't get too excited too early! The technical indicators show that the RSI has reached 32.54, close to the oversold zone! The CVD indicator is declining, and selling pressure is increasing. If the support at $200 is broken, SOL could plunge directly to $180, which would be a 39% drop! However, if it can hold at $200.35, along with the momentum from the non-farm payroll data, reaching $210 is not impossible!
What should we focus on? Just two points: first, the "institutional movements", such as whether Grayscale or BlackRock has increased their positions; second, the "ecological explosion", such as whether there are any new breakthroughs in DeFi or NFT projects on Solana. These two signals are the "wealth code"!
But don't rush to go all in! Remember the "three-three principle": 30% core position, 30% swing trading, 30% cash. Reduce positions at $207.82, increase at $200.35, and strictly set stop-loss and take-profit!
The current price of SOL is $203, near the "line of life and death"! If it holds the support at $200.35, you can try going long, targeting $207.82; if it breaks, watch the $190 defense line. Retail investors, remember the "three-three principle": keep 30% core position unchanged, 30% swing trading for price differences, and 30% cash to guard against risks, with strict stop-loss at $198 and take-profit at $210!
Do you all think SOL can break $250 by the end of the year? See you in the comments, Captain is waiting for you to join the conversation!
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