SOL/USDT 1H: Accumulation Signals a Breakout to $270!?

SOL/USDT 1H Chart Analysis

Current Price: $239.33

Market Condition:

• Consolidation phase with signs of accumulation.
  

Key Levels:

• Entry Zone: $238-$240
  

Targets:

• T1: $250 (key resistance)
  
• T2: $260
  
• T3: $270
  
• Stop Loss: Below $232 (recent support).
  

Technical Highlights:

• Hidden bullish divergence on RSI.
  
• Volume profile indicates strong support at $235-$238.
  
• Previous resistance at $250 now acting as a magnet for price.
  

Smart Money Analysis:

• Accumulation evident at support.
  
• Market makers likely positioning for the next leg up.
  

Recommendation:

• Long position favorable with a confidence level of 7.5/10.
  
• Maintain tight risk management and watch for breakout confirmation above $240.
  
• Score: 7.5/10 - Clear risk/reward with strong technical and volume support for upside potential.