Technical analysis by VctMid about Symbol SOL: Buy recommendation (12/5/2024)

1H Timeframe (Hourly Chart):•Current Movement: Local correction from the $234-$236 resistance zone.•Resistance: $234-$236 (local).•Support: $226 (local) and $220 (strong).•Indicators:•Red Sell signals warn of short-term selling pressure.•RSI is nearing the neutral zone, signaling weakening sellers.•Forecast:•Upside: 50% chance of a short-term move higher if $236 is broken.•Downside: 50% if $226 support doesn’t hold.4H Timeframe (4-Hour Chart):•Local Trend: The price is trading within a sideways range.•Resistance: $234-$236, a key zone for sellers.•Support: $226-$228, where buying interest is observed.•Indicators:•RSI is exiting the oversold zone, indicating potential accumulation.•The recent Buy signal increases the chances of a short-term upward move.•Forecast:•Upside: 60% if $236 is breached, with potential to reach $240.•Downside: 40% if $226 support fails.1D Timeframe (Daily Chart):•Global Trend: SOL maintains an uptrend but is currently in a correction phase.•Key Levels:•Strong Resistance: $240-$250.•Support: $220-$225.•Indicators: Buy signals and the green zone on the indicator confirm buyers’ interest, but momentum is slowing down.•Forecast:•Upside: 70% if the price consolidates above $235.•Downside: 30% if $225 breaks, price could move toward $200.✅ My Actions:1.Long-Term (1D): Considering buys from $225 or above $235 upon confirmation.2.Mid-Term (4H): Watching for a retest of $226 to consider entering a long position.3.Short-Term (1H): Monitoring closely around $234 and $226 for decision-making.💡 Tip: Always manage your risk and trade only confirmed signals!🔥 Show Your Support!Drop a 🚀 and follow me for more valuable and timely market insights.🛠️ Want My Indicator?Get the Midas Multi Indicator for free! Click the link in my profile bio 👇