SOL Tests Key Resistance as Bullish Momentum Builds on 1-Hour Ch
SOLUSDT is showing promising upward momentum, currently trading at $160.25. As it approaches critical resistance at $160.8, traders should stay alert to technical indicators for potential entry and exit points.Key resistance levels to watch are $160.8, $163.26, and $164.14, while support levels sit at $158.92, $158.12, and $155.37. A breakthrough above $160.8 could signal further gains, but rejection may lead to a test of support.
The 9 EMA is indicating short-term bullishness, while the 20 EMA suggests the broader trend is still in transition. The MACD shows signs of reduced bearish pressure, and the RSI is climbing, hinting at a potential bullish reversal.
Traders might consider a long position if SOL breaks above $160.8, targeting $163.26 and $164.14. Conversely, a rejection could lead to short opportunities towards support levels.
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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.