Analysis of SOL/USDT frame 1 hour
2024-11-11

On the 1 -hour frame chart of SOL/USDT, the price is moving stably in the price increase channel. Currently, this pair of money has reached an important support area (blue), with two EMA 34 lines (purple) and EMA 89 (orange) are maintaining below, supporting the uptrend.

If SOL is maintained on the support area, it is likely that the price will turn on and continue to increase, towards higher target landmarks in the channel, such as $ 220. This is the potential buying order when the price checks the trend of the channel.

In case the price breaks below this support area, SOL can check lower levels, especially around the EMA 89 in the $ 200 area. However, if the price increase channel is still maintained, the likelihood of turning up will be high.

Proposed trading strategy
Buy (Long): prioritize the purchase order when the price is on the support area and start the signal increasing.
Short -term sale: If the price breaks under the support area and cannot be kept in the channel, it is possible to consider the sale order with the goal near the EMA 89 area.
With the maintenance of EMA and canal structure, the prospect of price increase for SOL is still very positive.