Long

Bullish Setup for $SOL After Key Breakout

Updated

is currently approaching a key descending trendline after testing a significant supply zone (in red). The price is consolidating near this level, and we are now waiting for a potential breakout above the trendline for confirmation of further upside.

Suggested Entries and Targets:
Entry Zone: $162.45, watching closely for a breakout above the supply zone with confirmation on HTF.
TP1: $175.54 - First target after confirmation of the breakout.
TP2: $188.36 - Second target as the bullish momentum continues.
TP3: $210.07 - $212.46, targeting liquidity above the next major resistance levels.
SL: Below $150.44, to minimize downside risk in case of rejection at the trendline.

We are looking for signs of strength at this key level. A clear breakout and retest of the trendline could signal the start of a strong bullish move.

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As always, stick to your strategy and do your own research before any entry.

Trade active

Update: Potential Pullbacks and New Entries
Congrats to everyone who followed this setup! has successfully hit TP1 at $175.54, just as we anticipated after the key breakout from the descending trendline. Now, what’s next?

For those who missed the initial entry, might provide new opportunities as we approach key support zones. We're expecting potential pullbacks to $172, $168, and $165, which could act as solid re-entry levels.

What to Watch:
Bullish Continuation: If shows strong buy-side delivery from these support areas, we could see it continue its bullish trend toward the previous target.

Election Volatility: Keep an eye on U.S. political events as they may bring high volatility, potentially disrupting this setup.

As long as reacts positively at these levels, the bullish structure remains intact, but stay cautious of unpredictable market moves.

Good Luck and feel free if you have any questions!

MadeByAK

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