Here's your technical snapshot for $SOL /USDT as of May 16, 2025:

🌐 SOL/USDT Overview

💰 Price:

$168.11

24h Change: −4.47%

📊 24h Stats:

MetricValueHigh$178.33Low$166.70Current Price$168.1124h Volume3.48M SOL ($596.06M)

Price is near daily low, signaling continued pressure or possible bottom testing.

🧭 Market Context

SOL had a recent move to $178, but is now in a pullback phase.

Key short-term support tested at $166.70 — holding for now.

Major liquidity zones below and resistance zones above suggest potential for range trading.

📉 Support & Resistance

LevelType$178.3324h Resistance$172–174Minor resistance zone$168.11Current price$166.70Daily low / short-term support$164.00Strong support$160.00Key swing support

🔍 Key Technical Notes

$166.70–168.00: Crucial buy zone — potential double bottom or bounce zone.

Break below $164 = bearish momentum toward $160 or lower.

Recovery above $172 = opens path back to $178+.

🧪 Volume Insight

Strong 24h volume suggests institutional interest.

However, a decline in momentum around $178 signals possible distribution before next move.

📌 Trade Ideas

🟢 Bullish Bounce Play:

Entry: $166.50–$168.00

TP: $174 / $178

SL: $164.50

Reason: Holding range support with high volume + potential recovery play

🔴 Breakdown Short Setup:

Entry: Below $164.00 (confirmed candle close)

TP: $160 / $155

SL: $167.00

Reason: Breakdown of range support + macro market weakness

⏱️ Timeframe Suggestions:

Scalp: 5m–15m near $166–$168

Swing: 4H reclaim of $172, or breakdown below $164

Would you like a 4H fib retracement setup or a scalp zone strategy for SOL?

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