analysis 📊Solana SOL-->>USDT 4H Technical Analysis🚀

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This analysis is based on the 4-hour timeframe. Shorter timeframes are available with a premium account—upgrade to unlock more detailed insights and trading opportunities!

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1. Trend Overview

• The current price action shows SOL trading around $164.31.

• The overall trend in the medium term appears to be bullish, with a series of higher lows forming since the recent local bottom.

• There was a strong upward impulse from the $140–$150 zone, indicating renewed buying interest.

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2. Key Support and Resistance Levels

• Support Zones:

  • $150–$155: Multiple touches and bounces suggest this is a strong support area.

  • $140–$145: Acts as a deeper support and has previously triggered significant upward moves.

• Resistance Zones:

  • $170–$175: Marked as a significant resistance area, with price previously rejected from this level.

  • $180+: A break above $175 could open the way towards the $180 region, but this level has not been tested recently.

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3. Price Patterns and Formations

• There is a clear consolidation and accumulation phase between $150 and $165, with price compressing before the recent breakout.

• A potential bullish continuation pattern is forming, with a possible retest of the $170–$175 resistance in the coming sessions.

• The chart also suggests a possible scenario where, after reaching $170–$175, a correction or pullback towards $160–$165 could occur before another attempt to break higher.

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4. Trading Strategy & Sentiment

Current Sentiment: Bullish-to-neutral, with a preference for buying dips while above $150.

Trade Idea:

• Entry: Consider long positions on pullbacks to the $160–$162 zone, with additional entries near $155 if the price dips further.

• Stop Loss: Place stops below $150 to protect against a deeper correction.

• Take Profit: Target the $170–$175 resistance zone for partial profits. If momentum continues, look for $180 as an extended target.

Alternative Scenario: If the price fails to hold above $150, sentiment may shift bearish, and a deeper move towards $140–$145 could be expected.

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5. What I Would Do Now

• I would look for a long entry around $160–$162, setting a stop loss just below $150.

• My first take profit would be at $170, with a stretch target at $175–$180 if bullish momentum persists.

• If the price breaks below $150, I would reassess and potentially look for buying opportunities closer to $140–$145.

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6. Additional Observations

• The price is currently above the 200-period moving average (SMA), which supports the bullish bias.

• There are no clear reversal patterns at the moment, but watch for any bearish engulfing candles or failed breakouts at resistance.

• Volume appears to be increasing on upward moves, which is a positive sign for bulls.

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This analysis is provided on the 4-hour timeframe. For more precise entries and exits, as well as access to shorter timeframes and advanced tools, consider upgrading to a premium account!

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Important Disclaimer

This is not investment advice. Every trade carries risk, and you should always conduct your own analysis before entering any position.