๐จ SOL/USDT 4H Technical Analysis Update ๐จ
Traders, eyes here ๐ โ Solana (SOL) is currently trading around $199, showing a very interesting setup on the 4H timeframe. Letโs break it down step by step:
๐ Chart Structure:
SOL is moving inside a rising channel, bouncing between support and resistance levels.
The price recently touched the upper boundary near $206 and faced rejection, pulling back toward the mid-zone of the channel.
Right now, itโs sitting at a critical decision point near $199โ$200 (highlighted by the pink support line).
๐ Bearish Case:
If SOL breaks below the channel support, we could see a sharp move toward the demand zone around $180โ185. A breakdown could even retest the stronger support near $165โ170 (blue box).
๐ Bullish Case:
If SOL holds the $195โ200 support and bounces back inside the channel, momentum could push it higher again, with immediate resistance around $210โ220, and eventually retesting $240 if volume supports the move.
โ๏ธ Key Levels to Watch:
Support: $195 / $180 / $165
Resistance: $210 / $220 / $240
๐ก Pro Tip for Traders: Always wait for confirmation! Donโt jump in on emotions โ watch how price reacts at $195โ200. A bounce here = long opportunity, a breakdown = short potential. Manage your risk carefully.
๐ If you like this analysis, show some โค๏ธ by liking, sharing, and following my channel for more daily updates. Let me know in the comments if you think SOL will bounce or break โ your opinion matters! ๐๐ฅ
