SOL/USDT – 1H – BUYThe currency pair Solana/Tether (SOL/USDT) breaks through the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance line at 157.970000000 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 149.580000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 155.3 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance line at 157.970000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Belt Hold’ candle pattern is detected. The candles form ‘Bullish Belt Hold’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 175.340000000 |
| 2nd High | 163.640000000 |
| Next High | 157.970000000 |
| Current Price | 156.520000000 |
| Next Low | 149.580000000 |
| 2nd Low | 147.880000000 |
| 3rd Low | 146.840000000 |
155.300000000 – 152.840000000 – 152.390000000 – 149.580000000 – 147.880000000 – 146.840000000
Trading Signals: FOREX – SOL – SOL/USDT – USDT – Bullish Belt Hold