Chart Analysis: Solana ($SOL /USDT)
Key Levels
Support Level: $115.926
Resistance Levels:
Immediate: $205.627 (current breakout zone)
Next: $220.000, $260.000
Breakout Signal
The price is breaking above $205.627, signaling bullish momentum.
A strong close above this level with volume confirms a breakout, targeting $220 and $260 as next resistances.
Trading Strategies
Long Position:
Enter above $205.627 if confirmed breakout holds.
Target: $220 (short-term), $260 (mid-term).
Stop-loss: Below $200 to manage risk.
Short Position:
Avoid unless price falls below $180, signaling a failed breakout.
Target: $115.926.
Recommendation
Traders should consider buying if the breakout is confirmed above $205.627 with strong volume. Monitor resistance levels and set stop-losses to manage risk.
