Buying at $184.45 may be a good opportunity depending on the context and your investor profile. I will present arguments to convince you:
1. Proximity to Important Support • The price is very close to the support at $184.44, a region that has historically held back falls. Buying near support reduces your risk, as the price tends to react positively.
2. Healthy Correction • After reaching the top at $264.39, the asset corrected, but is still in a long-term uptrend. Corrections usually offer good entry opportunities at discounted prices.
3. Technical Points • 99-period Moving Average (99-period MA): The price is close to the 99-period MA (purple line), which often acts as dynamic support in uptrends. • Confluence with Horizontal Support: This point unites technical factors, increasing the chance of a reaction.
4. Possible Upside • If the price holds at the current support, there is potential for a rally to the next resistance level at $215.50, which would represent a gain of approximately 16%.
5. Favorable Risk/Reward Ratio • If you place a stop just below $182.74 (recent low) and target the resistance, you have limited risk relative to the potential upside.
Buy from the link below to help the page $SOL
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