Professional technical analysis on SOL/USDT
Current price: 180.79 USDT (+1.31%)
Highest price in 24 hours: 187.71 USDT
Lowest price: 173.29 USDT
Technical indicators:
Bollinger Bands: the price is approaching the upper limit (191.28), indicating a potential upcoming breakout.
RSI (6): 69.08, close to the overbought area, a signal for strong positive momentum.
MACD: the DIF line is approaching a positive crossover with the DEA, signaling the beginning of a new upward wave.
Moving Averages: MA(5) is above MA(10), indicating a continuation of the upward trend.
Price pattern: consecutive bullish candles after a rebound from the support area of 173 USDT, with a clear breakout of moving averages.
Proposed trading strategy: "Rebound Breakout"
1. Entry point:
Entry at the current price or upon retesting the 178 – 180 USDT area.
2. Profit targets:
First target: 192 USDT
Second target: 205 USDT (in case of a strong breakout)
3. Stop loss:
Below the main support at 171 USDT.
4. Capital management:
Risk ratio does not exceed 2.5% of capital per trade.
Use position size management according to account size.
Additional notes:
The market shows consolidation in buying momentum with healthy trading volumes.
Any positive news about Solana projects or new adoption can accelerate the rise.
Make sure to follow the developments of decentralized protocols built on the Solana network.
