After a sharp decline, SOLUSDT is currently in the process of recovering and seems ready to return to strong upward momentum. Positive data from the Solana ecosystem is helping SOL regain momentum, and recent technical signals also support this trend.
The 4H chart shows that the price is reacting well at the 128.00 support level and has the potential to bounce from here. SOLUSDT is trading within a descending channel, but if it breaks above 139.00, the next target will be 143.00. Additionally, the Ichimoku indicator shows positive signals, with the Ichimoku cloud beginning to thin out.
The current trading strategy is to buy when SOLUSDT holds above 128.00 and breaks through 139.00, with a target of 143.00. Place a stop loss below 128.00 to protect your capital.
However, if the price fails to hold the 128.00 support and falls below it, the upward trend will be invalidated, and the price may return to a downtrend.
The 4H chart shows that the price is reacting well at the 128.00 support level and has the potential to bounce from here. SOLUSDT is trading within a descending channel, but if it breaks above 139.00, the next target will be 143.00. Additionally, the Ichimoku indicator shows positive signals, with the Ichimoku cloud beginning to thin out.
The current trading strategy is to buy when SOLUSDT holds above 128.00 and breaks through 139.00, with a target of 143.00. Place a stop loss below 128.00 to protect your capital.
However, if the price fails to hold the 128.00 support and falls below it, the upward trend will be invalidated, and the price may return to a downtrend.
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LEVEL UP YOUR TRADING
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Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
👉t.me/+aoROTvcQl3k4MzA1
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.