Technical analysis by coffeeground about Symbol SOL: Buy recommendation (4/3/2025)

I'm planning a trading strategy for Solana/U.S. Dollar (SOL/USD) with an entry point at approximately 120.36. My target for profit-taking is set at 132.83, indicating my confidence in an upward trend. For risk management, I've placed a stop loss at 116.03 to minimize potential losses in case the market moves against me. The Fibonacci retracement levels help guide my decision-making, providing key support and resistance areas. Overall, my strategy is focused on maximizing gains while keeping risks under control, using technical analysis to navigate market movements effectively.