Key Points:
Price Trend: SOL is currently in a downward trend but nearing a support zone, hinting at possible reversal or further decline based on breakout direction.
Strategy: Patience is key; traders should wait for clear breakout signals before entering trades, with attention to Fibonacci levels for setting targets or stops.
Risk Management: Important in volatile markets like crypto; setting stop-losses near key Fibonacci levels or recent lows/highs is advised.
Price Trend: SOL is currently in a downward trend but nearing a support zone, hinting at possible reversal or further decline based on breakout direction.
Strategy: Patience is key; traders should wait for clear breakout signals before entering trades, with attention to Fibonacci levels for setting targets or stops.
Risk Management: Important in volatile markets like crypto; setting stop-losses near key Fibonacci levels or recent lows/highs is advised.
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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.
Related publications
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.