Hello everyone, let's look at the 4H SOL to USDT chart, as we can see the price is staying in the sideways trend channel marked with blue lines.
Let's start by setting goals for the near future that we can include:
T1 = $145.9 was rejected
T2 = strong zone that effectively reverses the price from $153-$163
AND
T3 = $189
Now let's move on to the stop loss in case of further market declines:
SL1 = $143.4
SL2 = $133.56
SL3 = $126.48
AND
SL4 = $117.53
Looking at the RSI indicator, you can see that we are moving around the middle of the range, which gives a possible move in both directions, but the STOCH indicator is moving at the lower border, which should result in an upward price rebound if the price stays at the current support.
Let's start by setting goals for the near future that we can include:
T1 = $145.9 was rejected
T2 = strong zone that effectively reverses the price from $153-$163
AND
T3 = $189
Now let's move on to the stop loss in case of further market declines:
SL1 = $143.4
SL2 = $133.56
SL3 = $126.48
AND
SL4 = $117.53
Looking at the RSI indicator, you can see that we are moving around the middle of the range, which gives a possible move in both directions, but the STOCH indicator is moving at the lower border, which should result in an upward price rebound if the price stays at the current support.