analysis 📊 Solana (SOL/USDT) – 1D Timeframe Analysis

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🔍 This is a daily timeframe (1D) analysis of Solana (SOL).
👉 For lower timeframes (such as 1-hour), upgrade to a premium account to access more detailed and real-time insights! 🚀

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1. Market Overview

• SOL has shown strong volatility, experiencing a sharp drop but finding support at key levels.
• Currently in a correction phase after a major rally, but signs of accumulation are emerging.
• Volume spikes indicate increased activity, suggesting a potential move in either direction soon.

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2. Key Support and Resistance Levels

🔴 Major Resistance Levels:

• $295.83 – Strong historical resistance, previous peak.
• $220.00 – Intermediate resistance zone before testing all-time highs.
• $180.00 - $200.00 – Critical zone where sellers have been active.

🟢 Major Support Levels:

• $168.88 – Local support, currently holding the price.
• $120.00 - $140.00 – Strong demand zone where buyers have previously stepped in.
• $100.00 – Psychological level; if broken, could lead to further downside.

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3. Technical Indicators & Market Sentiment

📌 Bearish Signals:

• Price rejected resistance levels multiple times, indicating strong selling pressure.
• Bearish wicks at key levels, suggesting supply zones are still dominant.

📌 Bullish Signals:

• Strong support around $168.88, where buyers have defended the price multiple times.
• Bullish wicks forming at lower levels, indicating accumulation.
• Previous uptrend still intact, with potential for continuation if key resistance is broken.

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4. Trading Strategies

✅ Bullish Scenario (Long Entry):

• If SOL stays above $168.88, it could push towards $180-$200 resistance.
• Break above $200 could open the door for $220-$295 as next targets.

❌ Bearish Scenario (Short Entry):

• If SOL loses $168.88 support, a drop to $140-$120 is likely.
• A break below $100 would be a strong bearish signal, leading to lower levels.

📈 Risk-Reward Consideration:

• Buying near $168.88 with stop-loss below $150 offers a good risk-reward ratio.
• Shorting near $200 resistance with a stop above $220 could be an opportunity for bears.

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5. Summary & Recommendation

• SOL is at a crucial level, with a potential bounce or further correction ahead.
• Traders should watch for confirmations before taking any major positions.
• For real-time scalping and lower timeframes (1H, 15M, 5M), consider upgrading to a premium account!

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