SOL’s Golden Zone: $217-$213 The Perfect Long Setup?

SOL is still in a corrective phase, with the 0.618 Fib retracement of the entire wave at $217.27 yet to be tested. This level aligns with key technical confluences, making it a critical zone to watch.

Recent Price Action & Short Trade Recap:

• Today, SOL retested the pwdOpen, aligning perfectly with the Point of Control (POC) and the 0.618 Fib retracement of the smaller downward wave, making it an ideal short entry
  
• The reaction was significant, but now the focus shifts to whether $217 will finally be tested
  

Long Trade Setup:

• Entry Zone: $217 - $213
  
• Stop Loss (SL): Below $210
  
• Take Profit (TP): $260, targeting the next major resistance level
  

Why This Setup is High-Probability:

1.) Fibonacci Confluence:

• The 0.618 retracement of the full wave at $217.27 is a key level where buyers may step in
  

• Weekly Support at $213.35 adds strength to this demand zone
  

2.) Liquidity Sweep Potential:

• A dip into $217-$213 could liquidate long positions, setting up a strong reversal if buyers reclaim control
  

3.) Upside Targets:

• 2021 all-time high (ATH) and beyond
  

Final Thoughts:

• Key Levels to Watch: $217-$213 for long confirmation
  
• Look for volume confirmation and bullish reaction before entering
  
• If SOL holds above $217, this setup could provide an excellent R:R trade
  

This could be a golden opportunity for a high-conviction long. Let’s see how SOL reacts! 🚀🔥