Technical analysis by hammad69918 about Symbol SOL: Buy recommendation (10/3/2025)

Hello TradingView Community, This post outlines a potential long trade setup for the Solana / U.S. Dollar (SOLUSD) pair, based on the 15-minute timeframe. Technical Analysis: The chart shows a significant horizontal price level at approximately $231.43. This level acted as a strong resistance zone, capping the price on previous attempts to move higher. Recently, we have witnessed a decisive breakout above this resistance, which is a strong bullish signal indicating that buyers are taking control. The trading idea is based on the classic "resistance-turned-support" principle. The price is currently retesting this broken level from above. A successful hold and bounce from this area would confirm it as new support and could serve as a launchpad for the next leg up. Trade Setup: The long position tool on the chart visualizes a potential trade plan for this bullish scenario: Entry: Approximately $231.43 (at the retest of the new support). Stop Loss: $218.13 (placed below the support structure to invalidate the idea if the level fails to hold). Take Profit: $267.45 (targeting a potential new higher high). This setup provides a structured plan with a favorable risk-to-reward ratio for a potential continuation of the bullish momentum. Disclaimer: This analysis is for educational and discussion purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk. Please conduct your own due diligence and manage your risk appropriately.