【$SOL Signal】Long - 1H Strong Consolidation, Building Up to Break Previous High

$SOL The 1H timeframe is consolidating strongly around 85.0, with the price staying close above the EMA20 (83.13), rejecting a deep pullback. The 4H timeframe has broken through the previous downtrend and stabilized above EMA20 (82.14), forming a bullish structure. Currently, the 1H RSI (70.53) is somewhat high, but the sideways movement indicates a strong correction, and after accumulating strength, a further upward move is expected.

🎯Direction: Long (Long)

🎯Entry/Order: 84.70 - 84.90 (Reason: Support at 1H EMA20 and current strong consolidation platform )

🛑Stop Loss: 83.50 (Reason: Break below 1H EMA50 support and the start of the 4H bullish candle )

🚀Target 1: 86.50 (Reason: Previous high resistance and psychological level )

🚀Target 2: 88.50 (Reason: 4H previous high resistance and 1.618 Fibonacci extension level )

🛡️Trade Management:

- Position Size Suggestion: Standard position (Reason: 4H and 1H trend resonance, clear structure )

- Execution Strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the remaining stop loss to the entry price. If the price strongly breaks through 86.50, move the remaining stop loss to break even and hold for Target 2.

Deep Logic: After a volume increase on the 4H timeframe, open interest (OI) remains stable, indicating it’s not purely a short squeeze but supported by new funds. Market depth shows buy orders (bids) are significantly thicker than sell orders (asks), with an imbalance of 11.48%, indicating strong support below. Several consecutive candles around 84.8 on the 1H chart show strong bullish protection. Coupled with negative funding rates, there is potential for a short squeeze.

Trade here 👇 $SOL

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