SOL/USDT 1H: Bullish Breakout Holding – $210 in Sight?!

SOL/USDT 1H: Bullish Breakout Holding – $210 in Sight?
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Market Structure & Momentum:

Bullish momentum intact with a clear pattern of higher lows and higher highs.
Current Price: $203.28, confirming a strong breakout above $202 resistance.
RSI at 69.43, nearing overbought territory but still showing strength.
Pattern: Inverse Head & Shoulders completed, with neckline at $198 confirming breakout.

Trade Setup (Confidence 8/10):

Entry Zone: $201 - $202 (on slight pullback).
Targets:
T1: $206 (short-term resistance).
T2: $210 (key level from previous structure).
Stop Loss: Below $198 (recent support level).

Risk Score:

7/10 – Strong bullish setup, but overbought RSI warrants caution on aggressive entries.

Smart Money Analysis:

Institutional accumulation evident around $196-$198, indicating strong buying interest.
Volume profile confirms heavy Smart Money involvement, supporting continuation.
No significant bearish divergences visible, keeping the uptrend intact.
A minor pullback could offer a better long entry before continuation.

Recommendation:

Long positions favorable on pullback to $201-$202 for better risk-reward.
Avoid chasing entries at current levels—wait for slight retracement.
Monitor price action near $206—strong breakout there confirms a push toward $210.

Confidence Level:

8/10 – Trend is bullish, but RSI suggests waiting for optimal entry.

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Cryptokijker

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