SOLUSDT Perpetual Swap Contract chart 30m
2025-01-29
Category: None

Based on the SOLUSDT Perpetual Swap Contract chart, here's my technical analysis:

1. Current Market Status:
- Price is trading at 230.42 USDT (+0.13%)
- Trading volume is 1.64M
- Winrate showing a bearish trend with 4.96 WL Ratio
- 50 trades recorded

2. Technical Analysis:
- The chart shows a significant downtrend from recent highs
- Price is currently attempting to form a bottom
- EMA 100 is acting as dynamic resistance
- A possible reversal pattern may be forming at current levels

3. Key Price Levels:
- Major resistance at 243.90 (TP7)
- Important target points:
  * TP1: 232.29
  * TP2: 234.51
  * TP3: 236.73
  * TP4: 239.88
  * TP5: 241.76
- Entry level marked at 225.12
- Current demand zone visible around 224-225 area

4. Trading Considerations:
- The downtrend has been steep but showing signs of potential reversal
- Volume profile suggests accumulation at current levels
- Multiple resistance levels need to be cleared for trend reversal confirmation
- EMA crossover might signal trend change if price sustains above current levels

5. Risk Management:
- Strong demand zone provides potential stop loss area
- Multiple overhead resistance levels suggest scaling out positions
- Position sizing should be conservative given recent volatility
- Consider partial profit taking at each TP level

Overall sentiment appears to be attempting to shift from bearish to neutral, but requires confirmation of reversal pattern and break above key resistance levels. Traders should maintain strict risk management given the recent downtrend momentum.