🔥 Quick summary:
The SOL currency is currently trading at $223.58, supported by a massive trading volume of $9.06 billion. The currency is facing pressure at a critical resistance at $213, where technical patterns and accumulation from whales and institutions indicate the potential for a strong upward movement if this resistance is broken.
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📊 Technical recommendations:
1. Neutral signal with a buying bias:
· The moving averages show a "strong buy" signal in the long term (SMA 50 at $188.17 and SMA 200 at $159.87).
· Oscillators (like RSI at 47.53) indicate a neutral zone, leaving room for upward movement without being overbought.
2. Entry Points:
· Direct Entry: at $211-$213 (strong support near Pivot Point).
· Entry on Retracement: at $197 (major support in case of correction).
· Stop Loss: $195 (critical support to avoid significant losses).
3. Exit Targets:
· Short Target: $219-$220 (near daily resistance).
· Medium Target: $240-$250 (in case of breaking the resistance at $213).
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⚠️ Important Warnings:
· High volatility is likely due to high trading volume and market news.
· Strong annual performance (+68.5% over the year) does not guarantee continued rise without fundamental support.
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💡 Do you think SOL can break the resistance at $213 this week and rise towards $250, or is a correction to $197 imminent? Share your opinion!
