$SOL /USDT - Pullback from Recent Highs š»
$SOL is currently trading at $240.67, down -6.31%, after hitting a 24-hour high of $295.83.
Key Levels:
š¹ 24h High: $295.83
š¹ 24h Low: $235.31
Observations:
$SOL faced significant selling pressure after reaching its recent high, leading to a sharp decline toward $240.67.
Immediate support lies at $235.31, which could act as a buffer for buyers.
Resistance is forming near $247.23, and a breakout above this level is required to regain upward momentum.
Trading Insights:
Bullish Scenario: A bounce off $235.31 could drive a recovery toward $250 and beyond.
Bearish Scenario: Failure to hold $235.31 may lead to a further drop toward $220.
Risk Management: Consider setting a stop-loss below $235 to protect against further downside.
š” Pro Tip: Watch for volume spikes around support and resistance levels to identify the next move.
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