Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
SOL has been bullish from a macro perspective, trading within the rising channel in blue.
Currently, SOL is in a correction phase approaching the lower bound of the channel.
Moreover, the $160 zone marked in green is a strong demand!
As per my trading style:
As #SOL approaches the green demand zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on…) and target the $300 round number for the next bullish phase.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich