$SOL LONG
Key Technical Observations:
Demand Zone: Price is currently recovering after tapping a demand zone near $144.59 - $142.43. This zone acts as a potential reversal area, providing a good entry point for long positions.
Break of Structure (BOS): A clear BOS occurred to the downside recently, but now price is attempting to regain ground and potentially shift back towards bullish momentum. Watching for confirmation of this reversal is crucial.
Market Structure Shift (MSS): An MSS has occurred, indicating a possible return to bullish conditions. The initial retracement has shown signs of bottoming out near the demand zone, and now price appears to be rebounding.
Fair Value Gap (FVG): There are visible FVGs above, particularly around $151.07 and higher, where price may attempt to fill these imbalances. These gaps typically act as magnets, providing room for further upside potential.
Order Block (OB): There is a marked order block around $151.90, which coincides with a previous high. This OB acts as a potential resistance, but also as a target for a long play.
Long Trade Setup:
Entry Zone: Look for long entries around the $145.00 - $146.00 region, just above the tapped demand zone.
Stop Loss: Set a stop below $142.43 to protect against a breakdown of the demand zone and invalidation of the long setup.
Targets:
First Target (TP1): $151.07 (FVG and resistance).
Second Target (TP2): $158 - $161.90 (liquidity hunt and upper FVG).
Trade Confirmation:
Watch for a Break Above: A break and close above $149.27 would give further confidence that the bulls are taking control, signaling potential upside toward the FVG area at $151.07 and beyond.
Momentum: Look for bullish momentum to continue with higher lows forming on lower timeframes, along with strong buying volume as price approaches key resistance levels.
Risk Management:
If price fails to hold above $144.59, it could signal further downside risks. Consider tightening stops or reevaluating the long setup if price closes below the demand zone.
Demand Zone: Price is currently recovering after tapping a demand zone near $144.59 - $142.43. This zone acts as a potential reversal area, providing a good entry point for long positions.
Break of Structure (BOS): A clear BOS occurred to the downside recently, but now price is attempting to regain ground and potentially shift back towards bullish momentum. Watching for confirmation of this reversal is crucial.
Market Structure Shift (MSS): An MSS has occurred, indicating a possible return to bullish conditions. The initial retracement has shown signs of bottoming out near the demand zone, and now price appears to be rebounding.
Fair Value Gap (FVG): There are visible FVGs above, particularly around $151.07 and higher, where price may attempt to fill these imbalances. These gaps typically act as magnets, providing room for further upside potential.
Order Block (OB): There is a marked order block around $151.90, which coincides with a previous high. This OB acts as a potential resistance, but also as a target for a long play.
Long Trade Setup:
Entry Zone: Look for long entries around the $145.00 - $146.00 region, just above the tapped demand zone.
Stop Loss: Set a stop below $142.43 to protect against a breakdown of the demand zone and invalidation of the long setup.
Targets:
First Target (TP1): $151.07 (FVG and resistance).
Second Target (TP2): $158 - $161.90 (liquidity hunt and upper FVG).
Trade Confirmation:
Watch for a Break Above: A break and close above $149.27 would give further confidence that the bulls are taking control, signaling potential upside toward the FVG area at $151.07 and beyond.
Momentum: Look for bullish momentum to continue with higher lows forming on lower timeframes, along with strong buying volume as price approaches key resistance levels.
Risk Management:
If price fails to hold above $144.59, it could signal further downside risks. Consider tightening stops or reevaluating the long setup if price closes below the demand zone.
Disclaimer
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