Professional analysis of currency #SOL/USDT + Strong trading strategy
1. Quick technical overview:
Current price: $170.61
Highest price in 24 hours: $171.76
Lowest price in 24 hours: $164.51
Volume: 2.87M SOL / 481.96M USDT
Overall trend: Bullish in the short term, in a consolidation phase after the correction from the recent peak $184.88.
Technical indicators analysis:
Bollinger Bands: The Bollinger Bands are showing tightness, indicating a strong movement (Breakout) is near.
RSI = 54.55: Neutral, no overbought or oversold conditions, enhancing buying opportunities.
MACD: Negative momentum is declining, indicating a potential bullish reversal soon.
Suggested trading strategies: "Price explosion after consolidation"
Entry point:
First entry: $171.80 (when breaking resistance 171.76 with stability for one hour or with a strong candle)
Second entry (safe after retest): $170.20 (if it returns to retest the previously broken resistance)
Stop Loss:
SL: below the support level 164.00 (calculated loss 4%)
Targets:
TP1: $178.00
TP2: $184.00
TP3 (extended): $192.00 (if breaking the previous peak)
Capital management:
Risk does not exceed 1.5% of capital.
It is best to divide the entry into two phases as per the strategy.
Final recommendation:
The SOL currency shows technical strength in the current support areas, and with the Bollinger Bands tightening, we anticipate a very strong movement in the coming hours. Stick to the strategy and manage your risk wisely.
