๐จ Traderโs Eye on SOL/USDT โ Current Market Outlook ๐จ
At present, SOL/USDT is trading around $202.68, showing a slight intraday pullback of -0.68% after facing resistance near $204.24. On the hourly chart, price action indicates a sharp rejection from the highs, followed by a period of consolidation. After touching the support zone near $199.32, SOL showed a recovery bounce, climbing back above the $202 level.
๐ Key Technical Observations (Traderโs Eye):
Immediate Resistance: Around $204 โ $206 zone. If SOL can close above this range with volume, we may see a continuation toward $210+.
Support Zone: Strong support is visible at $199 โ $200, a crucial level to watch. If it breaks, the price could retest $195 levels.
Momentum Check: Buyers are stepping in from the lower range, but overall selling pressure is still higher (Ask: 60.09% vs. Bid: 39.91%). This means market sentiment is slightly bearish in the short term.
Trend Outlook: On a larger timeframe (30D, 90D, 180D), SOL remains strong with gains of 19% โ 75%, showing solid medium-to-long-term bullish structure despite current volatility.
๐ Traderโs Tip:
For short-term traders, keep an eye on the $199 support zone. If it holds, itโs a good opportunity for a bounce play. For swing traders/investors, any dips toward $195 โ $198 could be considered as accumulation zones, while $210 โ $212 remains the breakout level to confirm bullish continuation.
โก Final Note:
Markets are moving fastโalways manage your risk and use stop-loss levels wisely. Remember, trading is about probabilities, not certainties.
๐ If you found this analysis useful, drop a like, leave a comment, and share it with your friends so more traders can benefit. Donโt forget to follow the channel for daily โTraderโs Eyeโ updates and timely market insights. ๐
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Best of luck ๐ค ๐ ๐ค