$SOL /USDT – Bounce or Fakeout? 🚀
📊 Trend Overview (Technical):
$SOL is trading at $85.29 on the 1-hour chart, recovering from a low of $82.92. Price is above all three EMAs, but the EMAs remain in a bearish alignment (7 below 25 below 99), suggesting we're still in a consolidation phase. Bollinger Bands show price above the middle band ($84.80) heading toward upper resistance at $86.13. RSI at 60 indicates bullish momentum, but volume is declining – a breakout needs volume confirmation.
💡 My Takes:
I'm watching this level closely. A clean break above $86.80 could trigger a short squeeze toward $88.50+. But if we reject here, expect a retest of $84.00 support. I'm scaling in cautiously with tight stops. Patience is key.
📊 Key Levels:
🟢 Support: $84.80 | $82.92
🔴 Resistance: $86.13 | $86.80
📈 Trade Setup (Short-Term):
Entry: $84.80 – $85.30
🎯 TP1: $86.80
🎯 TP2: $88.50
🛑 SL: $82.80
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⚠️ Disclaimer: I am not a financial advisor. This analysis is for educational and informational purposes only and does not constitute financial advice. 📉 Cryptocurrency trading, especially in volatile tokens, involves substantial risk. 🔥 Past performance does not guarantee future results. Always conduct your own research (DYOR) and never invest more than you can afford to lose. 💰 Trade responsibly. 📊
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