To define a good entry point in Solana ($SOL ), we analyzed some factors in the chart below:
1. Support and Resistance
• Strong Support: ~ US$112 (recent low, a good buying point if the price drops again).
• Short Resistance: ~ US$131 - 135 (next selling zone, where it may find difficulty to rise).
• Major Resistance: ~ US$155 - 179 (if it breaks this range, it may start a stronger upward trend).
2. Moving Averages (MA)
• MA7 (short term) → US$128.58: The price is above it, which may indicate a possible upward movement.
• MA25 (medium term) → US$135.44: The price is still below, which shows it needs to overcome this barrier to confirm upward trend.
• MA99 (long term) → US$186.64: It is quite far, signaling that SOL is still in a recovery phase.
3. Short-Term Trend
• The price is testing an accumulation zone between US$124 and US$130.
• The volume is still low, indicating that the market may be waiting for a catalyst to define a clear direction.
• The MACD and RSI are neutral, not indicating overbought or oversold conditions.
4. Entry Strategy
Option 1: Safe Entry (More Conservative)
• Buy at US$124 - 127, which is the recent support range.
• Stop-loss: US$119 to avoid large losses if it falls.
• Target: US$135 and US$155.
Option 2: Aggressive Entry (For Greater Potential)
• If it breaks US$131 - 135 strongly and with high volume, it may indicate continuation of the rise.
• Entering this region may ensure you catch the movement, but the risk is higher.
• Stop-loss: US$127.
• Target: US$155 - 179.
Conclusion
• If you want to enter now, a good point is near US$124 - 127, but you may wait for a pullback.
• If you want confirmation of an uptrend, wait for a break above US$135 with volume before entering.