Solana ($SOL )Technical Analysis and Trade Setup*
*Current Market Situation:*
Solana ($SOL #MarketRally ) is currently trading within a strong demand zone, ranging from $84 to $86. The selling pressure is gradually diminishing, and momentum is shifting in favor of a potential bounce.
*Trade Setup:*
- *Entry Point:* $84 - $87
- *Stop Loss (SL):* $80
- *Take Profit (TP) Levels:*
- TP1: $92
- TP2: $98
- TP3: $105
*Technical Analysis:*
The price continues to hold above the key support level, with buyers actively defending this range. Each dip is being absorbed, and the downside follow-through is weak. A successful reclaim and hold above $90 could accelerate the upside momentum.
*Risk Management:*
As long as SOL remains above $84, a recovery move is still in play. It is essential to manage risk and respect invalidation levels to ensure a successful trade.
*Recommendation:*
Consider going long on $SOL within the specified entry range, with a stop loss at $80 and take profit levels at $92, $98, and $105. Monitor the price action closely and adjust the trade accordingly.