SOLANA: Approaching the $97.22 Demand Zone — Long Setup Ahead?
SOLANA: 13-Day Range — Watching the $97.22 Bottom for a Long Setup
Solana has been trading inside a clear range between $97 and $107 for almost 13 days, and the price is now approaching the bottom of this range around $97.22.
At this area, I’m looking for potential long opportunities.
There are two ways I would consider entering this trade: 👇👇
1. Risky Limit Entry
For a more aggressive approach, you can place a limit order around $97.22.
For the stop loss, there are two options:
- Risky SL: $94.48
- Safer SL: $92.12
For the targets, you can manage the position based on R:R:
- TP1 = 1R
- TP2 = 2R
- TP3 = 3R
If we get the long entry near the bottom of the range, the main idea is for SOL to move back toward the top of the range around $107.
2. Confirmation Entry
The second approach is to wait for confirmation instead of entering immediately at $97.22.
Once the price reaches the bottom of the range, I would look for a clear reaction from the area, such as a strong bullish candlestick or a change in market structure from bearish to bullish.
If that confirmation appears, we can then look for an entry with confirmation. This approach may provide a higher-probability setup, although the entry could be at a higher price and the potential R:R may be different.
So, personally, I prefer waiting for the reaction and confirmation rather than blindly entering at the bottom of the range.
However, if you want to take the limit-order approach, the $97.22 area is the level I’m watching, with either $94.48 or the safer $92.12 stop loss.
If #SOL reaches the top of the range around $107, that would be the main area to watch. And if the price breaks above the range with strong momentum, SOL could potentially continue higher.
Solana has been trading inside a clear range between $97 and $107 for almost 13 days, and the price is now approaching the bottom of this range around $97.22.
At this area, I’m looking for potential long opportunities.
There are two ways I would consider entering this trade: 👇👇
1. Risky Limit Entry
For a more aggressive approach, you can place a limit order around $97.22.
For the stop loss, there are two options:
- Risky SL: $94.48
- Safer SL: $92.12
Personally, if I were taking the limit-entry approach, I would prefer the safer stop loss at $92.12 to give the trade more room.
For the targets, you can manage the position based on R:R:
- TP1 = 1R
- TP2 = 2R
- TP3 = 3R
If we get the long entry near the bottom of the range, the main idea is for SOL to move back toward the top of the range around $107.
2. Confirmation Entry
The second approach is to wait for confirmation instead of entering immediately at $97.22.
Once the price reaches the bottom of the range, I would look for a clear reaction from the area, such as a strong bullish candlestick or a change in market structure from bearish to bullish.
If that confirmation appears, we can then look for an entry with confirmation. This approach may provide a higher-probability setup, although the entry could be at a higher price and the potential R:R may be different.
So, personally, I prefer waiting for the reaction and confirmation rather than blindly entering at the bottom of the range.
However, if you want to take the limit-order approach, the $97.22 area is the level I’m watching, with either $94.48 or the safer $92.12 stop loss.
If #SOL reaches the top of the range around $107, that would be the main area to watch. And if the price breaks above the range with strong momentum, SOL could potentially continue higher.
As always, manage your risk properly and don’t risk more than you can afford to lose.
Trade ativo
Nota
By the way, the exact #SOL setup I published has already pumped almost 4.9% to the upside from our entry.If you paid attention to the setup, you had almost 24 hours to buy SOL around $97.
I also bought SOL at around $97, and I’m still holding it in my spot portfolio. Just to be clear, I bought this one in spot, not futures.
Nota
#SOL has pumped around 9% from our entry, and with the safe stop loss, we’re currently sitting at around +1.7R. ⚡️If you entered with the risky stop loss, you’re currently around +3R in profit. 🔥
I hope you caught this trade and managed to make some nice profits from it! 💸
Trade fechado: objetivo atingido
The price of #SOL has pumped 17% from our entry, and if you entered this trade with the safe stop loss, you are now sitting at around +3R profit.If you entered with the risky stop loss, this trade has already given you around +6R profit in less than 3 days. 🔥
In my opinion, SOL could still move higher toward $120.76.
You can either:
- Book some profit around +3R and let the rest run toward $120.76.
- Or keep a portion of the position open for even higher targets if the price continues moving in our direction.
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❤️ Join our Telegram: t.me/mrsignalll
🔥 Register on Bitunix & get 35% cashback on trading fees: bitunix.com/register?vipCode=gNLc6869
📩 Coin analysis: t.me/the_foundder
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🌐 Website: mrsignalll.onrender.com
❤️ Join our Telegram: t.me/mrsignalll
🔥 Register on Bitunix & get 35% cashback on trading fees: bitunix.com/register?vipCode=gNLc6869
📩 Coin analysis: t.me/the_foundder
❤️ Join our Telegram: t.me/mrsignalll
🔥 Register on Bitunix & get 35% cashback on trading fees: bitunix.com/register?vipCode=gNLc6869
📩 Coin analysis: t.me/the_foundder
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.