SOLUSDT: Long or Trap? Breaking Down the Setup
2025-02-03
Category: None

   

🔥 ** BINANCE:SOLUSDT.P ** is bouncing off the support zone, showing strength from the bulls! After a sharp dump, price held a key level and is now pushing up. The big question — is this a true reversal or just a "bearish retest" before another drop?  

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🔑 **Key Levels:**  

**Support:**  
   
  **171.06 USDT** — strong demand zone.  
  **160.23 USDT** — critical level, breaking below could trigger more downside.  
   

**Resistance:**  
   
  **199.55 USDT** — local resistance; breaking above could accelerate movement.  
  **272.53 USDT** — key target for profit-taking.  
  **295.16 USDT** — strong supply zone; breaking above opens the door to 300 USDT+.  
   

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🚀 **Trading Strategy:**  

**Entry Point:**  
- Long from **171.06 USDT** with volume confirmation.  
- Conservative entry after a breakout of **199.55 USDT**.  

**Stop-Loss:**  
- Below **160.23 USDT** to avoid stop hunts.  

**Take-Profit Targets:**  
   
  **198.45 USDT** — first target to reduce risk.  
  **272.53 USDT** — primary target for the bullish move.  
  **295.16 USDT** — extended target if the uptrend continues.  
   

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📈 **Technical Analysis:**  
   
  Increasing volume on the bounce signals strong buyer interest.  
  A breakout above **199.55 USDT** confirms bullish momentum.  
  If price drops below **171.06 USDT**, expect a potential retest of **160.23 USDT**.  
   

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💡 **Conclusion:**  

SOLUSDT.P is showing bullish reversal signs, but without breaking **199.55 USDT**, we can't confirm a full trend shift yet. Is this just a retest before another sell-off or the start of a new uptrend? Let’s discuss! 🚀💬  