SOL $260 - Bounce from Support for 26.72% Return
2024-12-11
Category: None

Altcoins, including  BINANCE:SOLUSDT , got hit today and tumbled more than 10%. Nevertheless, the situation remains bullish overall. Solana hit support at $204.00 and bounced right off from it. We're currently targeting the last HH (higher high) at $260.00 which could give us up to 26% in return for this trade. Of course, if we break below $204.00 and close the daily candle there the trade would be disqualified.

We are also inside a bullish flag (blue channel) that looks like a healthy consolidation of the former leg up we made during November.

 Support Zone: 
 
  $204.00
 

 Resistance/Target Zone: 
 
  $260.00
 

Let me know what you think!