Neutral-to-Slightly Bullish $SOL is trading near $197–$198, rebounding from intraday lows around $192, and holding above notable support near $194–$195 (VWAP confluence). Key resistance resides in the $199–$200 region, where a breakout could pave the way for further upside.
Fibonacci Levels:
Retracement status: SOL is currently hovering near the 0.618 Fibonacci retracement level (~$190), drawn from the July high ($116).
Price zones:
Support: ~$190 (0.618 Fib), ~$194–$195 (structural/VWAP support)
Resistance: ~$199–$200 (daily resistance/Bollinger top), with additional resistance up at ~$210–$218 (0.618 longer-term Fib).
RSI:
Value: Approximately 62.7–66.4 (14-period), indicating moderate bullish momentum, but not overbought.
Interpretation: Bullish momentum remains intact but retains room for continuation before hitting overbought levels.
Entry Zones:
Safer: Around $194–$195, reinforced by VWAP and mid-channel support.
Aggressive: On a dip closer to $190, aligning with the 0.618 Fibonacci level—a riskier setup but potentially high reward.
Take-Profit Zones:
TP1: $199–$200, where immediate resistance lies.
TP2: $210–$218, tapping into longer-term Fibonacci resistance and measured move targets.
Stop-Loss Ideas:
Conservative SL: Below $194, giving oneself room beneath structural support.
Tight SL: Just below $190 (~$188), taking into account the Fib level—ideal for tighter risk control.
