This technical analysis for Solana (SOL/USDT)
๐ Current situation
Price: 123.26
General trend: Sideways with a downward tilt
Last bottom: 119.24
Last peak: 128.78
๐น Moving Averages (EMA)
EMA 7: 123.04
EMA 25: 123.15
EMA 99: 126.60
๐ The price oscillates around EMA 7 and 25 โ Market confusion
๐ EMA 99 above the price โ The general trend is still pressing
๐น Support and Resistance
Supports:
122.00
120.90
119.20 (Strong support)
Resistances:
124.50
126.60 (EMA 99)
128.80
๐น RSI (6)
RSI โ 54
๐ Light positive momentum
Not overbought โ Room for limited upward movement
๐น MACD
Weak positive crossover
The histogram is gradually improving
๐ Potential reversal signal but without momentum strength
๐น Trading Volume
Volume is relatively weak
๐ Uptrend without liquidity = Potential false breakouts
๐ฏ Immediate Trading Scenario (Scalping / Intraday)
๐ต Buy Scenario (BUY)
Entry:
Between 122.50 โ 123.00
Stop Loss (SL):
121.90
Targets (TP):
๐ฏ TP1: 124.50
๐ฏ TP2: 126.00
๐ฏ TP3: 126.60 (Strong resistance)
๐ Enter only with a confirming green candle above 123
๐ด Sell Scenario (SELL)
Entry:
If breaking 121.90 with a clear close
Stop Loss (SL):
122.70
Targets (TP):
๐ฏ TP1: 120.90
๐ฏ TP2: 119.20
โ ๏ธ Risk Management (Essential)
Maximum Risk: 1โ2%
After the first target โ Move the stop to the entry point
No trading during strong news
๐ง Summary
Solana is in a consolidation range
Quick profit is possible but without greed
The real breakout is only above 126.60$
Good luck to you with $SOL
