📊 SOL/USDT Technical Analysis – Daily & 4H Timeframes
After a significant drop from its recent highs, Solana appears to be in a corrective phase. In both the daily and 4-hour charts, price action has formed a short-term bullish structure, indicating buying strength.
📈 Currently, SOL is trading within a rising wedge pattern. A breakout from the wedge could lead to a continuation of the upward move toward the $218–$221 zone, which aligns with the 0.618 Fibonacci retracement and is near the R3 Pivot Point—a key technical confluence zone.
🎯 Trade Plan:
✅ Phase 1 Entry: Initiating a position at current levels with proper risk management.
✅ Phase 2 Entry: Adding on confirmation of wedge breakout.
❌ Stop-loss: Placed below Wave 4 at $151
📌 This analysis reflects my personal trading idea and is shared for educational purposes only. Please manage your own risk accordingly.
After a significant drop from its recent highs, Solana appears to be in a corrective phase. In both the daily and 4-hour charts, price action has formed a short-term bullish structure, indicating buying strength.
📈 Currently, SOL is trading within a rising wedge pattern. A breakout from the wedge could lead to a continuation of the upward move toward the $218–$221 zone, which aligns with the 0.618 Fibonacci retracement and is near the R3 Pivot Point—a key technical confluence zone.
🎯 Trade Plan:
✅ Phase 1 Entry: Initiating a position at current levels with proper risk management.
✅ Phase 2 Entry: Adding on confirmation of wedge breakout.
❌ Stop-loss: Placed below Wave 4 at $151
📌 This analysis reflects my personal trading idea and is shared for educational purposes only. Please manage your own risk accordingly.
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.
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.