#SOL/USDT 4-hour provided, the price is currently hovering around $124.80. There is a visible support zone between $116 and $121 where buying interest has historically picked up. Technical indicators like the MACD are showing a slight bullish divergence, suggesting a potential short-term reversal from these oversold levels.
🎯 SOL/USDT Trade Setup 🚀
✅ Entry Zone: $123.00 – $125.00
(Look for stability around the current market price or a slight dip to the red support line).
🚫 Stop Loss: $115.50
(Placed safely below the recent wick low of $116.88 to protect against a deeper breakdown).
🎯 Take Profit 1: $131.50
(Targeting the resistance level marked on your chart near the Middle Bollinger Band).
🎯 Take Profit 2: $150.00
(A major psychological resistance and the upper boundary of the previous accumulation zone).
✅ Take Profit 3: $176.00
(Aligns with the green resistance line visible on your chart from late November).
💡 Technical Highlights
Support: The area near $121 is a critical pivot; holding this level is essential for the bullish thesis.
Momentum: While the 200-day moving average is sloping down (indicating a weak long-term trend), the 4H chart shows signs of coiling for a relief rally.
Volume: Watch for an increase in buying volume to confirm a breakout above the $131 resistance.
