Current Price: $174.96
24h High: $178.59
24h Low: $172.45
Volume: 3.35M SOL
CHART ANALYSIS!!!
1. Moving Averages (MA):
MA(5): 1,079.687
MA(10): 842.614
MA(60): 175.13
2. Volume:
High volume indicates strong trading activity. The recent spike in volume suggests potential price movement.
3. MACD (Moving Average Convergence Divergence):
DIF: -0.10
DEA: -0.10
MACD: 0.00
TRADING STRATEGY:
Long Entry
Entry Point: $175.50
Enter when the price breaks above the 60-period MA ($175.13), indicating a potential uptrend.
Stop Loss (SL): $172.50
Set below the recent low to limit potential losses.
Take Profit (TP): $180.00
Aim for a level close to the recent high to maximize profit.
Short Entry
Entry Point: $173.00
Enter when the price falls below $173.50, confirming a potential downtrend.
Stop Loss (SL): $176.00
Set above the recent high to limit potential losses.
Take Profit (TP): $170.00
Aim for a level close to the recent low to maximize profit.
TRADE DURATION:
Long Trade Duration: 1-3 days
Short Trade Duration: 1-2 days
Contingency Plans
Plan A (Long Trade):
If Price Drops Below Entry Point:
Monitor price action near the stop loss. If the price shows signs of reversal (e.g., hammer candlestick, bullish divergence), consider holding.
Plan B (Long Trade):
If Price Reaches SL:
Exit the trade to limit losses. Re-evaluate market conditions before considering re-entry.
Plan C (Short Trade):
If Price Rises Above Entry Point:
Monitor price action near the stop loss. If the price shows signs of reversal (e.g., shooting star candlestick, bearish divergence), consider holding.
Plan D (Short Trade):
If Price Reaches SL:
Exit the trade to limit losses. Re-evaluate market conditions before considering re-entry.
SUMMARY!!!!!
Long Entry: $175.50, SL: $172.50, TP: $180.00
Short Entry: $173.00, SL: $176.00, TP: $170.00
Duration: 1-3 days for long trades, 1-2 days for short trades
Plans: Monitor price action for potential reversals, exit at SL if no reversal signals
Always ensure to keep updated with market news and events that may impact SOL/USDT prices.
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