SOL – Trade Setup (Mid Term)
Let’s see how SOL is behaving.
This is a 4H chart. (Mid Term)
Like DOGE, we can have a trade setup on SOL too.
Read the chart. Two TP areas for your long/short positions.
There are two resistance areas on the way up.
And one support level holding the price up as long as we’re consolidating.
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing SELL volumes for SOL.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Upper Bollinger Band can push down the value, and the Middle band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that SOL is above the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It’ll help you have better readings:
Current Market Price: $83.81
Let me know your ideas.
Good luck.



