SOL Breaks $200: Bulls Eye $234-$245 in Markup Phase
2025-01-17
Category: None

SOL/USDT 4H Chart Analysis 
 Market Structure: 
SOL is trading at $220, maintaining a strong bullish setup after breaking the key $200 resistance level.
Market makers have transitioned from accumulation to markup, signaling a push toward higher price levels.

 Key Levels:
 
 
 
 
 
 Support:
 Primary: $200 (recently broken resistance turned support).
 Secondary: $188 (major consolidation zone).
 Resistance:
 T1: $234 (premium zone).
 T2: $245 (extension target).
 

 Momentum: 
 
 
 
 
 RSI: Hidden bullish divergence observed during recent consolidation, confirming upward momentum.
 Volume: Strong volume confirms institutional buying pressure and a likely continuation of the uptrend.
 

 Trade Setup: 
 
 
 
 
 Entry: Current levels ($220-$222) or on pullbacks to $215.
 Targets:
 T1: $234.
 T2: $245.
 Stop Loss: Below $208 (recent consolidation support).
 Risk-to-Reward: Favorable setup, especially given the strong volume and clear breakout.
 Confidence Level: 8/10 for bullish continuation.
 

 Market Maker Activity: 
 
 
 
 
 Market makers have likely completed accumulation in the $188-$200 range, as indicated by volume and price behavior.
 Expectation: A continued push toward the premium zone ($234) before potential distribution begins.
 

 Considerations: 
 
 
 
 
 Pullbacks: Watch for buying opportunities near $215 if the price retraces briefly.
 Volume confirmation: Ensure continued strong volume near $234 to support further upside.
 Premium zone reaction: Monitor price action near $234-$245 for potential distribution or consolidation.
 
 
This setup indicates a strong bullish outlook with clear targets at $234 and $245, backed by institutional activity and technical confirmation.

