$SOL /USDT BULLISH TECHNICAL ANALYSIS
Current Price: $240.64
Chart Analysis:
The Solana chart shows strong bullish momentum, with the price currently trading above key support levels. The recent green candles indicate strong buying pressure and a clear uptrend.
Key Levels:
* Resistance: $241.84 šÆ (24h high) - This is a crucial level. A clear break and sustained trading above this point could lead to new highs.
* Support: $237.56 š”ļø - This level has held strong and serves as a key area of support. A pullback to this level could be a potential buying opportunity.
Trade Setup (Long):
* Entry: A confirmed breakout above the $241.84 resistance level or a bounce off the $237.56 support level.
* Take Profit (TP):
* TP1: $245.00
* TP2: $250.00
* TP3: $255.00+
* Stop Loss (SL): A close below the $237.56 support level. For a more aggressive trade, a stop loss could be placed just below the low of the breakout candle.
Risk Management:
Always use a stop loss to protect your capital. Do not risk more than 1-2% of your total trading account on a single trade. This is a high-risk, high-reward market, so trade wisely and use proper position sizing. š°š