π Current Setup: SOL is currently forming a strong bull flag on the daily chart, indicating a potential breakout in the near term.
π Technical Analysis:
The price has been consolidating within the boundaries of a bullish flag pattern.
The Relative Strength Index (RSI) is showing positive momentum, indicating increasing buying pressure.
Key support levels are holding, contributing to the bullish bias.
π― Price Targets:
1οΈβ£ $126: The initial target is set at $126, representing the upper boundary of the bull flag pattern.
2οΈβ£ $146: Further upside potential could lead SOL towards the $146 level, where the next resistance zone lies.
π Trade Strategy:
Consider entering a long position if SOL breaks out above the flag pattern with strong volume confirmation.
Set stop-loss orders below key support levels to manage risk.
Keep an eye on price action at the mentioned targets for potential profit-taking or reevaluation.
π Disclaimer: Trading cryptocurrencies involves risk, and past performance is not indicative of future results. Always conduct your analysis and consider risk management strategies.
Happy Trading! ππΉ
π Technical Analysis:
The price has been consolidating within the boundaries of a bullish flag pattern.
The Relative Strength Index (RSI) is showing positive momentum, indicating increasing buying pressure.
Key support levels are holding, contributing to the bullish bias.
π― Price Targets:
1οΈβ£ $126: The initial target is set at $126, representing the upper boundary of the bull flag pattern.
2οΈβ£ $146: Further upside potential could lead SOL towards the $146 level, where the next resistance zone lies.
π Trade Strategy:
Consider entering a long position if SOL breaks out above the flag pattern with strong volume confirmation.
Set stop-loss orders below key support levels to manage risk.
Keep an eye on price action at the mentioned targets for potential profit-taking or reevaluation.
π Disclaimer: Trading cryptocurrencies involves risk, and past performance is not indicative of future results. Always conduct your analysis and consider risk management strategies.
Happy Trading! ππΉ
Not financial advice !!!
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mSamex Exchange (No KYC Needed): www.msamex.com
mSamex Links: linktr.ee/msamex
Telegram Channel: t.me/meshtrade_ir