What happened in Solana $SOL ?
Hello Trader Friends
Solana (SOL) **Why SOL?**
- High liquidity & volume (reducing slippage).
- Strong upward trend but with clear pullback opportunities.
- Correlates with Bitcoin but has higher volatility for swing trading.
--- Key Levels for Swing Trading SOL (4H or Daily Chart)
1. Oversold Zone (Buy):
- RSI (14) ≤ 30-35 (Daily chart) – Indicates potential reversal.
- Bollinger Band (20,2) – Price near lower band + RSI oversold = Strong buy signal.
- Key Support Levels: - $120 (Psychological + previous swing low). - $110 (Strong demand zone, EMA 200 on 4H).
Entry Strategy: - Wait for RSI ≤ 30-35 + bullish candlestick (hammer, engulfing) near support. - Place stop-loss below $105 (risk management).
2. Overbought Zone (Sell):
- RSI (14) ≥ 70-75 (Daily chart) – Potential exhaustion.
- Bollinger Band (20,2) – Price approaching upper band + RSI overbought = Sell signal.
- Key Resistance Levels: - $160 (Previous high, psychological resistance). - $175 (retest ATH, possible profit-taking zone).
Exit Strategy: - Take some profit at $160, trail stop above $150.
- Fully exit if RSI > 75 + bearish reversal candle (doji, shooting star).
--- Risk Management Rules:
1. Position Size: Maximum 2-5% of capital per trade.
2. Stop-Loss: Always below the nearest swing low (e.g., $105 for SOL). $SOL
3. Take-Profit: Scale out (50% at the first target, 50% thereafter)
Stay Motivated🔛🔥 and always BE AWARE and DYOR