Analysis of SOLUSDT Perpetual Swap (30M - OKX)
2025-01-31
Category: None

Analysis of SOLUSDT Perpetual Swap (30M - OKX)

1. Trend Analysis

Mid-Term Uptrend but Weakening:

Price is still above EMA 100 and EMA 200, indicating a broader uptrend.
However, price is facing rejection from EMA 20, and a Sell Signal has appeared, suggesting increased selling pressure.
Recent movements indicate a potential retracement (pullback) or short-term reversal.
Hitting Resistance and Potential Correction:

The price was rejected from the supply zone at 244.75 USDT, which acts as a key resistance level.
Now, the price is pulling back and testing the support zone at 236.28 - 233.67 USDT.

2. Key Resistance Levels
🔴 Major Resistance Zones:

241.77 - 244.75 USDT: A supply zone where price was previously rejected. A breakout above this level could signal continuation.
249.98 USDT (Stop-Loss Zone): If price breaks this level, it may confirm a breakout for further upside.

3. Key Support Levels
🟢 Key Support Levels to Watch:

236.28 USDT (TP1 / Fib 0.382): First support level. If price holds, a potential bounce could happen.
233.67 USDT (TP2 / Fib 0.500): If the first support breaks, this would be the next key level.
231.06 USDT (TP3 / Fib 0.618): A deeper retracement zone where buyers may step in.
228.72 - 225.12 USDT: A strong support area for a potential major rebound.
4. Risks & Concerns
⚠️ Potential Risks to Monitor:

If price breaks below 236.28 USDT, further downside is likely.
EMA 20 is acting as resistance, which could lead to more selling pressure.
Volume is still weak → If no strong buying volume appears, the price could continue to fall.

5. Trading Strategy

✅ Long Scenario (Buy Entry):

Entry: Wait for a bounce from 236.28 - 233.67 USDT support zone.
Target 1: 241.77 USDT (EMA 20 Resistance)
Target 2: 244.75 USDT (Supply Zone Retest)
Stop-Loss: Below 233.00 USDT

✅ Short Scenario (Sell Entry):

Entry: If price rebounds but fails to break 241.77 - 244.75 USDT.
Target 1: 236.28 USDT
Target 2: 231.06 USDT (Fib 0.618 Zone)
Stop-Loss: Above 245.00 USDT

6. Summary
📌 SOLUSDT is still in an uptrend but facing increasing selling pressure.
📌 Key support is at 236.28 - 233.67 USDT. A break below could lead to 231.06 - 228.72 USDT.
📌 Major resistance is at 241.77 - 244.75 USDT. A breakout above could signal further gains.
📌 Trading Strategy: Wait for a bounce at support or short if price gets rejected at resistance.

🔎 Recommendation:

Confirm price action before entering trades.
If volume remains weak, further consolidation or correction is likely.
💬 Would you like a deeper analysis on any specific aspect? 🚀📊