Technical analysis by Rick_SimpleSwap about Symbol SOL: Buy recommendation (11/22/2023)

SOL/USDT Trading Scenarios We are considering two scenarios for the SOL/USDT pair. After reaching the $68 level, the asset's price dropped to $51.08. At this point, there was a successful test of a strong inclined support level, followed by a confident rebound. Currently, due to the decline, an inclined resistance level has formed. First Scenario: Upon the third approach to the inclined resistance level and price consolidation below it, there is a possibility of entering a long position. The potential target is $60, with a second target set at $68. Second Scenario: If the decline continues and the price consolidates near the inclined support level, followed by a break above it and reaching $47.5 with a solid rebound and confirmation above $47.5 on high trading volume, there is consideration for entering a long position within this price range. The growth potential is estimated up to $60.