SOL Update: Solana Holding Strong Above Support! What’s Next? 🚀
Solana $SOL is showing some interesting price action on the 4-hour chart today. After touching a recent low of $80.26, it has managed to bounce back and is currently trading at $85.90.
Key Observations:
Support Levels: SOL has strong support at $84.58 (MA99) and $84.33 (MA25). As long as it stays above these levels, the short-term trend remains positive.
Why it could go UP: We are seeing a "Bullish Bounce" from the $80 area. If the volume continues to increase, the next target could be the $88.80 resistance (24h High).
Why it could go DOWN: If Bitcoin faces rejection, SOL might retest the $84.91 level. A break below $84 would be a signal to wait for a deeper dip.
Trading Plan:
Buy Zone: Looking for entries near $85.00 - $85.50 if support holds.
Sell/Take Profit: Keep an eye on the $88.00 - $90.00 range for short-term profits.
The order book currently shows 58.66% Buy orders vs 41.34% Sell orders, suggesting that buyers are currently more aggressive!
Are you Bullish or Bearish on SOL today? Share your thoughts below! 👇