SOL TAPPED 108 AND SPRANG BACK THE PULLBACK TRADE IS ON
Solana dropped about 7 percent this week but zoom out and the story changes completely as the coin is still up about 10 percent on the month and the daily chart shows price tapping 108 and bouncing straight back to 112 which is a classic pullback in an uptrend while the last candle closed green with a solid body which shows buyers defended the dip zone and support sits at 106 and it held with resistance waiting at 124
Recommendation is BUY because a strong monthly trend plus a successful retest of support is exactly what dip buyers look for with the entry zone sitting between 108 and 112 while the stop loss goes under 105 on a daily close and the first target is the 124 resistance zone
My take is that SOL keeps showing relative strength here as every dip this month found buyers fast and this one looks the same while as long as 106 holds the path of least resistance points up
Did you catch the SOL dip or are you still waiting for a better entry
$SOL
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #SOL
Solana dropped about 7 percent this week but zoom out and the story changes completely as the coin is still up about 10 percent on the month and the daily chart shows price tapping 108 and bouncing straight back to 112 which is a classic pullback in an uptrend while the last candle closed green with a solid body which shows buyers defended the dip zone and support sits at 106 and it held with resistance waiting at 124
Recommendation is BUY because a strong monthly trend plus a successful retest of support is exactly what dip buyers look for with the entry zone sitting between 108 and 112 while the stop loss goes under 105 on a daily close and the first target is the 124 resistance zone
My take is that SOL keeps showing relative strength here as every dip this month found buyers fast and this one looks the same while as long as 106 holds the path of least resistance points up
Did you catch the SOL dip or are you still waiting for a better entry
$SOL
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #SOL