$SOLV /USDT- is experiencing a bullish trend.
The current price is $0.04612, marking a 6.36% increase from the previous close. The intraday high reached $0.04612, while the low was $0.04326. Key support is observed at $0.0453, with resistance at $0.0497. A breakout above $0.0497 could target $0.0599.
Fibonacci Levels:
The recent price action suggests a potential retracement from the $0.0497 resistance level. Key Fibonacci retracement levels to watch are:
23.6%: $0.0471
38.2%: $0.0458
50%: $0.0453
61.8%: $0.0448
A bounce from these levels could indicate continued upward momentum.
RSI:
The 14-day Relative Strength Index (RSI) is at 64.07, suggesting that the market is neither overbought nor oversold. This neutral condition implies potential for further price movement without immediate reversal signals.
Entry Zones:
Safer Entry: Consider entering around the $0.0458 to $0.0460 range, aligning with the 38.2% Fibonacci level.
Aggressive Entry: A breakout above $0.0497 could provide an opportunity for aggressive entry, targeting the next resistance at $0.0599.
Take-Profit Zones:
TP1: $0.0497 (previous resistance level)
TP2: $0.0599 (next projected resistance)
Stop-Loss Ideas:
Conservative Stop-Loss: Place a stop-loss just below the 50% Fibonacci level at $0.0453 to minimize potential losses.
Tight Stop-Loss: A more aggressive stop-loss could be set just below the 23.6% Fibonacci level at $0.0471, allowing for tighter risk management.
