Recently, I've been keeping an eye on Solana's trend, and it's quite interesting. The current price has already reached around $135.18, with the bulls clearly gaining momentum. According to the RSI indicator, it's now at 51.5, indicating that the bullish and bearish forces in the market are somewhat tilted.



From a technical analysis perspective, the chart structure remains relatively clear. The support level is pinned at $131.12, with resistance above at $139.24. There's a key breakout level at $137.88; if the price can stabilize above this point, there could be more room for upward movement. This kind of situation can indeed be quite tempting.

Regarding trading ideas, my thoughts are as follows:

First, avoid going all-in; entering in batches is a more prudent approach. Keeping position size around 30% of total funds is reasonable, allowing participation in the trend without overexposing to risk. Set the stop-loss slightly below $131.12 so that even if the price pulls back, it remains relatively manageable.

As for target levels, initially watch the resistance at $139.24. If the price can break through $137.88 smoothly, there's no need to rush to close the position; you can hold on for potentially higher profits.

Why am I somewhat optimistic about this opportunity? One, the bulls are currently in the advantage in the market; two, Solana's ecosystem development has been ongoing, and the fundamental support is still there. However, trading is always about managing risk first and foremost.

What are your thoughts?
SOL0,89%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 7
  • Repost
  • Share
Comment
0/400
quiet_lurkervip
· 17h ago
This wave of SOL is really starting to strain, just worried that the $137.88 level will be hammered back down again.
View OriginalReply0
AirdropSweaterFanvip
· 01-05 07:52
Sol is doing the same thing again; I would only believe it if 137.88 can hold steady.
View OriginalReply0
PuzzledScholarvip
· 01-05 07:51
This wave of SOL is indeed impressive, but I'm worried it might be just a fleeting moment.
View OriginalReply0
LuckyBlindCatvip
· 01-05 07:51
Here comes the hype again. Is it really about to take off around 135? I feel like there might still be some fluctuation left.
View OriginalReply0
OptionWhisperervip
· 01-05 07:51
137.88 is really stuck at this level; let's see if it breaks through. It's a bit early to enter now.
View OriginalReply0
OnchainDetectivevip
· 01-05 07:46
Entering in batches is still a safe move, but I really wonder if the 137.88 level can hold firmly, I'm not confident.
View OriginalReply0
MEVSandwichVictimvip
· 01-05 07:45
SOL is starting to struggle a bit. If it breaks through 137.88, I need to jump on board quickly.
View OriginalReply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)