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Looking at SOL's recent performance, I can't help but feel the urge to take action.
The current price is around $121.75, and honestly, I've been watching it for several days. The bullish momentum is good, with an RSI reading of 50.8 indicating the market still has heat, but it's far from being crazy. This rhythm reminds me of the previous rally, where I missed out on many gains due to indecision. This time, I need to think carefully.
From a technical perspective, the support level is solid at $118.1, with resistance above at $125.4. The most critical level here is $124.19—once it breaks, it can be confirmed that the upward trend is officially starting. By then, more funds are likely to follow in, which is quite exciting to think about.
My trading plan is as follows: first, allocate 20% of my position to gently test the waters and gauge the market response. I set my stop-loss at $117.5, just below the support level, to allow enough buffer and avoid being swept out by minor pullbacks. If I can successfully reach around $125.4, I plan to add another 30% of my position and ride the momentum. Conversely, if the price breaks below the support level, I will immediately end this trade because protecting the principal is always the top priority.
Specific price references:
• Support level: $118.1
• Resistance level: $125.4
• Key breakout point: $124.19
What do you think of this logic? Feel free to share your thoughts in the comments or share your own trading ideas.