Solana Market Outlook: SOL/USDT Trading Strategy
Solana is currently exhibiting a constructive technical setup as it consolidates near a pivotal support zone. Following recent market volatility, the price action on shorter timeframes suggests that buyers are actively defending key levels. The asset has established a base, which often serves as a precursor to a localized breakout toward upper resistance levels.
Market Structure
The primary support is firmly established at 85 dollars. As long as the price holds above this level, the intraday bias remains bullish. A failure to maintain this support could lead to a quick retest of the secondary safety net at 83.50 dollars. On the overhead side, the first major resistance is located at 86 dollars, followed by a more significant supply zone at 88 dollars.
Trade Plan
Entry Level: Around 85 dollars
First Target: 86 dollars
Second Target: 87 dollars
Final Target: 88 dollars
Stop Loss: Below 84 dollars
This setup offers a high-probability opportunity for traders looking to capitalize on current market stabilization. As always, ensure you are using proper risk management and monitoring volume for confirmation of the move.
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