Solana (SOL) Price Movement – Support Test and Bounce in Play

📉 Solana (SOL) Price Movement – Support Test and Bounce in Play

Solana recently dipped to an intraday low of $145.25, testing a critical support level. Following the drop, SOL quickly rebounded to a high of $148.56, signaling buyer interest. It is now trading around $146.90, consolidating just below minor resistance.

🔍 Market Insight:

The quick bounce from $145.25 suggests short-term support is holding firm. This could be a base for a potential move higher, especially if the market stabilizes and BTC remains above its key levels.

📈 Trade Setup – Long Position (4H Timeframe)

Entry Zone: $146.50 – $147.20

Stop Loss: $144.50 (below the recent support zone)

Target 1: $150.80

Target 2: $154.50

Target 3: $158.70

💡 Technical View:

The price action between $145 and $148 shows accumulation. A breakout above $148.80 may trigger bullish momentum, while a drop below $144.50 would invalidate this setup and signal caution.

🛡️ Risk Reminder:

Always use stop losses and proper position sizing. If $144.50 breaks, it could open the door for further downside.

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Trade on here $SOL