$SOL
SOL/USDT Technical Analysis (1D) - Bullish Structure Faces Strong Resistance
1. Current Market Condition
SOL/USDT maintains a bullish structure but faces strong resistance at the order block zone of 185.79. Price is consolidating near this level with the EMA 200 acting as dynamic support.
2. Key Observations:
- Bullish Signals:
Price holding above EMA 200 (current level ~176.59)
Approaching EMA golden cross above volume line (potential trend confirmation)
MACD (12,26) nearing bullish territory
- Critical Resistance:
185.79 (order block) → Breakout target: 195.25 (Upper Bollinger Band)
Stronger resistance at 206.30 (recent high)
- Support Levels:
176.59 (Mid Bollinger Band & EMA 200)
163.79 (major swing low)
3. Trading Strategy:
- Long Entry: Wait for confirmed breakout above 185.79 with increasing volume. Initial target: 195.25
- Stop-Loss: Place below 176.59
- Caution: Rejection at 185.79 could lead to correction toward 176.59
4. Volume Analysis:
24-hour volume shows moderate participation (726M USDT). Sustainable breakout requires volume above 1B USDT.
5. Conclusion:
The bullish structure remains intact, but 185.79 is a crucial level. Successful breakout could push price toward 195.25-206.30, while rejection may extend consolidation.
Disclaimer: Not financial advice. Always do your own research.
