$SOL is showing strong bullish momentum, trading within a broadening wedge pattern. This technical structure often signals increased volatility and potential decisive moves. The recent breakout above the $200 resistance level confirms bulls are in control, with potential for further upside.
Key Levels:
- Current Price: $201
- Buy Level: Above $200
- Stop Loss: Below $150
- Targets:
- Target 1: $250
- Target 2: $300
- Target 3: $500
- Target 4: $700
Technical Outlook:
The breakout above $200 suggests momentum may continue, with potential for another leg up. The immediate target lies at $300, where some profit-taking is expected. Sustained momentum could see SOLUSDT surge toward $700, aligning with the pattern's projected price expansion.
Risk Management:
Managing risk is crucial. Use a well-placed stop loss below the support level to protect your capital. Discipline and proper risk management are key to navigating volatile markets.
Trading Strategy:
- Max Leverage: 2x
- Stop Loss: Always keep a stop loss in place
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