Technical Analysis of SOLUSDT (1D Chart - OKX)

Technical Analysis of SOLUSDT (1D Chart - OKX)
Trend Analysis & Market Outlook
The chart illustrates a downtrend, with the price currently trading near the lower support level.
Key resistance levels are observed at 239.03 and 295.82, indicating potential upside targets if a reversal occurs.

The Stochastic Oscillator appears to be in the oversold zone, suggesting a possible short-term bounce.

The volume profile suggests declining buying pressure, reinforcing the bearish sentiment.

Key Levels & Trading Strategy
Support & Demand Zone: A strong demand zone is located around 168-175 USDT, with a potential buy entry.

Resistance Levels:
Short-term: 214.36 USDT (TP1), 215.81 USDT (TP2)
Mid-term: 239.03 USDT (TP3), 264 USDT (TP4)
Long-term: 295.82 USDT (Major resistance & supply zone)

Risk Management & Trade Setup
Bullish Scenario: If the price holds above 175 USDT, a bounce towards 214-239 USDT could occur.
Bearish Scenario: A breakdown below 168 USDT could trigger further downside toward 140 USDT.
Stop Loss (SL): Suggested around 14 USDT below entry for risk control.

Final Conclusion
Primary Bias: Bearish (until price reclaims 215-220 USDT)
Short-Term Play: Watch for potential reversal signals near the demand zone (168-175 USDT).
Long-Term Positioning: A break above 239 USDT may signal a trend reversal.

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