🚨 $SOL /USD: Testing Crucial Levels – What’s Next? 🔥

Solana ($SOL) is currently trading at $227.45, down by -3.06% in the past 24 hours. The market sentiment is shifting as SOL retests key support and resistance zones. Let’s dive into the technicals and opportunities ahead:

📊 Key Market Highlights

24-Hour High: $237.75

24-Hour Low: $225.49

Volume: 2.81M SOL

Support Levels: $225, $215

Resistance Levels: $236, $247

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🔥 Technical Overview

🔴 Current Scenario:

SOL has faced selling pressure near $236, pulling back to test the $225 support level. A break below this could push prices toward $215, a critical demand zone.

🟢 Bullish Setup:

If SOL bounces back above $236, it could rally toward $247, a key resistance. Breaking this level might reignite bullish momentum, targeting new highs.

📉 Bearish Risks:

A breach below $225 may lead to further declines, with $215 being the next line of defense. Traders should watch for increased volume near these levels.

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🎯 Trade Strategies

1️⃣ Long Position: Enter near $225 with targets at $236 and $247. Place a stop-loss below $215 to minimize risk.

2️⃣ Short Position: If $225 breaks, short SOL with targets at $215 and $205. Use $230 as a stop-loss to manage downside risk.

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🌟 Key Takeaway

Solana is at a crossroads with potential for both recovery and further correction. Keep an eye on the $225 and $236 levels to determine the next trend. Remember, volatility creates opportunities—trade wisely!

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