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$SOL /USDT: Is the Solana Summer Starting Early?
Current Price: 84.52 (+0.71%)
📍 Entry Zone: 82.50 – 83.50 (Looking for a retest of the MA(7) and MA(25) support)
🛑 Stop Loss: 80.80 (Strategic buffer below the recent consolidation floor and $81.40 low)
🎯 Take Profit Targets:
• TP1: 87.00 (Retest of the previous local high)
• TP2: 92.50 (Major horizontal resistance zone)
• TP3: 100.00 (Psychological milestone target)
📊 Technical Analysis:
On the 1-hour chart, Solana (
$SOL ) has successfully formed a "Rounding Bottom" pattern. The price has pushed back above the MA(7) (82.92), MA(25) (82.69), and MA(99) (81.97). We are seeing a bullish fanning of the moving averages, which often precedes a high-velocity move. The MACD is looking strong with a positive crossover and a rising green histogram at 0.23.
⚠️ Risk Tip:
Solana is currently showing higher relative strength than many other Layer 1s. However, the $87.00 level is a heavy supply zone. If the price fails to break this on the first attempt, we might see a brief pullback to $83.00. 24h volume of $194.86M USDT shows healthy interest, but watch for a volume spike above 500k on the 1h candles to confirm the breakout.
🔥 Are you bullish on the Solana ecosystem this week, or is it a 'sell the news' event? Let me know your targets! 👇
#sol #Layer1 #cryptotrading #bullish #BinanceSquare