Technical analysis for SOL/USDT based on the 4-hour timeframe.
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🔍 Technical analysis:
1. Current price: $172.76
Strong increase of +5.48% in 24 hours.
2. Moving averages:
EMA 7 = 168.88 (yellow)
EMA 25 = 167.00 (pink)
EMA 99 = 171.91 (purple)
The price is currently above all moving averages, which is a positive signal indicating the beginning of a short to medium-term uptrend.
3. MACD Indicator:
The blue line (MACD) has crossed above the yellow line (signal) = strong buy signal.
The difference between the lines has started to widen = bullish momentum is increasing.
4. RSI Indicator (buying strength):
RSI at 72.97 = in the overbought area, but has not given a reversal signal yet.
A slight correction is possible but momentum remains positive.
5. Candlestick pattern:
Clear bullish candles with good trading volume.
Breaking the previous peak at 172.80 may lead to a breakout towards higher levels.
6. Trading volume:
Trading volume is high which supports the bullish trend.
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✅ Recommendation:
Buy Entry:
Current price is suitable for buying if the resistance level of $175.7 is broken.
First target: 180.81 USDT
Second target: 188.00 USDT (if momentum continues)
Stop loss: 165.00 USDT (previous low)
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⚠️ Notes:
Watch the $175.7 area as it represents a strong previous resistance.
RSI in the overbought area, so it's advisable to manage risks well and not enter with the entire capital at once.
