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SOL/USDT 4H chart
Chart Analysis Summary
Current Price: ~$173.16
Trend: Recent Change of Character (CHoCH) to the upside, suggesting a bullish move might be forming.
Indicators:
Price is approaching a major supply zone between $180–$190.
Descending trendline still intact – being tested now.
20 SMA (blue) is now acting as dynamic support.
CHoCH suggests break in bearish structure.
Trade Setup: Long (Buy) Option
Entry Options:
1. Conservative Entry: On a confirmed break and close above $175, then entry on retest.
2. Aggressive Entry (current): Anywhere between $172–$174, as it approaches trendline resistance and previous CHoCH level.
Stop Loss (SL):
Below demand zone and recent swing low:
SL: $160
More aggressive SL: $165
Take Profit (TP):
TP1: $180 (minor supply zone and trendline test)
TP2: $190 (major supply zone)
TP3 (extension): $200–$210 (near weak high zone)