$SOL Price Analysis 🔥

Current Situation 📍

SOL has bounced back from $216 (61.8% Fibonacci retracement level) but faced selling pressure at $246. The market is at a crossroads.

Key Technical Points 📊

✅ Support: 20-day moving average, 50-day moving average ($212). If broken, SOL may drop to $200.

✅ Resistance: $246 (short-term resistance), $260 (strong resistance). Breaking through could challenge the historical high of $295.6!

✅ Market Sentiment: Bulls are attempting to break through, but bears are still cautious, leading to a volatile market.

Trading Strategies 📌

📈 Bullish Strategy: Consider buying after breaking through $246, targeting $260, and then the historical high of $295.6! If SOL pulls back to the 20-day moving average (or 50-day moving average), consider buying the dip, targeting $246 and $260.

📉 Bearish Strategy: If SOL faces resistance at $246 and drops, consider shorting to the 20-day moving average. Breaking below $212 may open up more downside space, targeting $200.

Key Takeaways 📍

🔵 Break through $246, target $260, and aim for the historical high of $295.6!

🔴 Break below the 20-day moving average, potentially drop to $212 (50-day moving average), or even $200!

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