We are considering two scenarios for the SOL/USDT pair.
After reaching the $68 level, the asset's price dropped to $51.08. At this point, there was a successful test of a strong inclined support level, followed by a confident rebound. Currently, due to the decline, an inclined resistance level has formed.
First Scenario: Upon the third approach to the inclined resistance level and price consolidation below it, there is a possibility of entering a long position. The potential target is $60, with a second target set at $68.
Second Scenario: If the decline continues and the price consolidates near the inclined support level, followed by a break above it and reaching $47.5 with a solid rebound and confirmation above $47.5 on high trading volume, there is consideration for entering a long position within this price range.
The growth potential is estimated up to $60.
After reaching the $68 level, the asset's price dropped to $51.08. At this point, there was a successful test of a strong inclined support level, followed by a confident rebound. Currently, due to the decline, an inclined resistance level has formed.
First Scenario: Upon the third approach to the inclined resistance level and price consolidation below it, there is a possibility of entering a long position. The potential target is $60, with a second target set at $68.
Second Scenario: If the decline continues and the price consolidates near the inclined support level, followed by a break above it and reaching $47.5 with a solid rebound and confirmation above $47.5 on high trading volume, there is consideration for entering a long position within this price range.
The growth potential is estimated up to $60.
Trade active:
UPD: We are closing half of the position with a 7.2% profit at a price of $60.60.
Trade closed: target reached:
We have reached the target and are closing the entire position at a price of $70.50, taking 25% profit.
Check the live chart to see the details