$SOL /USDT Trading Signal – Bearish Trend with Support at $206
Solana (SOL) is currently trading at $211.42, marking a sharp 6.60% decline in the past 24 hours. After reaching a recent high of $244.70, SOL faced consistent selling pressure, bringing it close to its 24h low of $206.74. The price action indicates bearish momentum, with critical support and resistance levels dictating the next move.
Short Entry:
Entry Zone: $212 - $215
Target 1: $207
Target 2: $200
Stop Loss: $220
Long Entry:
Entry Zone: $206 - $209 (if support holds)
Target 1: $218
Target 2: $225
Stop Loss: $204
Market Insight:
SOL is testing crucial support near $206.74. If this level breaks, the next downside target could be $200. Conversely, a strong defense of this support could lead to a bounce back towards $218. Traders should closely watch the volume and price reaction at the $206-$209 range for confirmation of a potential reversal or continuation of the downtrend.
Pro Tip: Be cautious of false breakouts in volatile conditions; wait for clear confirmation before entering trades.
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