#solana Today - My Analysis
$SOL is trading around 80.70 today after a sharp fall.
Yesterday SOL went down to 77.92 and buyers came back from there. That low is now the most important level for SOL. As long as price stays above 77.92, buyers still have some control.
Right now SOL is stuck in a tight zone.
Support is at 80.20 to 79.60
If this zone breaks, SOL can go back to 77.92 again.
Resistance is at 81.30 to 83.10
SOL needs to close above 81.30 to show real strength. If it closes above 83.10, then we can see a bigger move towards 86.50.
My view for today is simple.
This is not a full trend change yet. This is only a bounce from the low.
If you are in a long, keep your stop loss below 77.92. Do not hold a long if price closes below that low.
If you are waiting for a fresh entry, wait for price to hold above 80.20 for some time, or wait for a clear move above 81.30. Chasing here is risky.
If price stays above 80.20, bounce can continue towards 81.30 and 83.10.
If price falls below 80.00 and stays there, sellers are back in control.
Trade with small size today, market is still weak and volatile.
SOL is at a decision point. Hold above 80.20 means bounce continues. Break below 77.92 means more downside.
This is my personal analysis, not financial advice.
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$SOL is trading around 80.70 today after a sharp fall.
Yesterday SOL went down to 77.92 and buyers came back from there. That low is now the most important level for SOL. As long as price stays above 77.92, buyers still have some control.
Right now SOL is stuck in a tight zone.
Support is at 80.20 to 79.60
If this zone breaks, SOL can go back to 77.92 again.
Resistance is at 81.30 to 83.10
SOL needs to close above 81.30 to show real strength. If it closes above 83.10, then we can see a bigger move towards 86.50.
My view for today is simple.
This is not a full trend change yet. This is only a bounce from the low.
If you are in a long, keep your stop loss below 77.92. Do not hold a long if price closes below that low.
If you are waiting for a fresh entry, wait for price to hold above 80.20 for some time, or wait for a clear move above 81.30. Chasing here is risky.
If price stays above 80.20, bounce can continue towards 81.30 and 83.10.
If price falls below 80.00 and stays there, sellers are back in control.
Trade with small size today, market is still weak and volatile.
SOL is at a decision point. Hold above 80.20 means bounce continues. Break below 77.92 means more downside.
This is my personal analysis, not financial advice.
#BinanceWritetoEarncampaign
#BinanceSquareTalks