SOL Surges Above $200: Bulls Eye $225-$235 Targets!
2025-01-16
Category: None

SOL/USDT Chart Analysis 
Bullish reversal confirmed: SOL has reversed strongly from the $180 support level, breaking above the key equilibrium zone with solid momentum.

Current price: $201.90.

 Key levels: 
 
 
 

 
 Support: $180 (strong base established from the reversal).
 Resistance:
 Immediate: $215 (next hurdle for further continuation).
 Target: $225-$235 range (bullish extension if momentum persists).
 RSI: Momentum is building from oversold conditions, aligning with the recent price breakout.
 
 Volume profile: Increasing buy volume supports the bullish continuation, with order blocks reinforcing this trend.
 

 Trade setup: 
 
 
 
 
 
 Entry: Current level ($201.90) or on a pullback toward $190-$195.
 Target: $225-$235 range (bullish extension zone).
 Stop loss: Below $180 to limit downside risk.
 Risk-to-reward: Favorable setup with a strong structural break and defined levels.
 Confidence level: 8/10 for bullish continuation.
 

 Considerations: 
 
 
 
 
 
 Volume confirmation: Ensure sustained buy volume to support the continuation toward $225-$235.
 Resistance test: Monitor price action near $215 for potential consolidation or rejection.
 Pullback opportunities: Watch for a retest of $195-$200 to enhance entry precision.
 

This setup highlights a robust bullish structure with clear targets and strong support at $180, making it a high-confidence trade.