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SOL/USDT (Futures) Potential Upward Movement

SOL/USDT (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 98.22, 102.28, 105.27.

Key Support Levels: 93.79, 89.35, 86.01.

Daily Time Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after posting a double bottom. The market found buyers below the 89.27 USDT mark where a bar with a long wick to the downside has been left showing that there was a sell climax. A move higher is expected in the coming hours.

SOL/USDT (Futures) Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the buyers to break the bearish trend line to the upside after a Wyckoff accumulation phase which led to a move higher. A lower correction has been posted to the bespoke support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 94.15

TP 1 @ 98.22

TP 2 @ 102.28

Stop Loss @ 90.09

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

One comment

  1. You mentioned futures here – do these signals also apply to spot prices ?

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