$SOL
Based on the chart and current market conditions for SOL/USDT on the 4-hour timeframe:
Key Observations:
1. Uptrend Confirmation: SOL is in a strong uptrend, hitting a recent high of $239.90. Higher highs and higher lows are forming.
2.Volume Surge: There’s significant volume behind this move, suggesting strong momentum.
3.Support and Resistance:
•Support levels: $204 and $162.
•Immediate resistance: $240 zone.
4.Overbought Indicators: The price may be approaching overbought conditions on indicators like RSI or MACD.
Short-Term Price Predictions:
1.Bullish Case:
•Target 1: $245 - Testing new highs with strong momentum.
•Target 2: $255 - If bullish momentum continues, this could be the next breakout.
2.Neutral/Consolidation:
•Support Revisit: $204 - Could see consolidation before the next leg up.
3.Bearish Pullback:
•Correction Level 1: $212 - Slight pullback from overbought levels.
•Correction Level 2: $180-$162 - Major correction level if broader market weakens.