SOL has retraced into a key demand zone near $215, offering an attractive long opportunity. This retracement follows a significant Market Structure Shift (MSS), and price is now showing signs of potential bullish reversal.
Key Observations:
1️⃣ Strong Demand Zone: Price has tapped into the demand area near $202–$215, where buyers historically stepped in.
2️⃣ Upside Targets:
First TP: $246 (prior structural resistance and Order Block).
Second TP: $263 (key liquidity area).
Third TP: $300 (psychological and structural level).
3️⃣ Favorable R:R Ratio: This setup offers a solid risk-to-reward profile if managed properly.
Trade Plan:
Entry Zone: $215–$217 for a favorable position.
Stop Loss: Below $202 to protect against invalidation.
Take Profit Levels:
TP1: $246
TP2: $263
TP3: $300
Patience and proper risk management are key here as we watch for bullish momentum to build up. Let's see if SOL can reclaim higher levels and push toward $300!
Key Observations:
1️⃣ Strong Demand Zone: Price has tapped into the demand area near $202–$215, where buyers historically stepped in.
2️⃣ Upside Targets:
First TP: $246 (prior structural resistance and Order Block).
Second TP: $263 (key liquidity area).
Third TP: $300 (psychological and structural level).
3️⃣ Favorable R:R Ratio: This setup offers a solid risk-to-reward profile if managed properly.
Trade Plan:
Entry Zone: $215–$217 for a favorable position.
Stop Loss: Below $202 to protect against invalidation.
Take Profit Levels:
TP1: $246
TP2: $263
TP3: $300
Patience and proper risk management are key here as we watch for bullish momentum to build up. Let's see if SOL can reclaim higher levels and push toward $300!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.