SOL at the limit: my experience with the critical point of 205 - buy out or run away for good?

robot
Abstract generation in progress

I'm here sweating cold looking at this SOL chart. You have no idea the agony it is to see this price dancing above 205! I've already lost sleepless nights because of this cursed and wonderful coin.

The bloody war between bulls and bears

Analyzing the one-hour chart, it's clear that the battle is heating up! This resistance at 212 is practically an impenetrable wall. SOL has already hit its face there several times and came back with a bloody nose.

The scariest part is this level 205 - it's literally the line between heaven and hell now. If it breaks down, I swear I'll cry selling everything! But if it holds strong... ah, then I'm already counting the imaginary profits.

Support at 197 is our last hope. If it falls there, you can bet that panic will take over and prices will plummet like a stone.

The RSI is at 50, but honestly? That doesn't tell me anything today. I've seen RSI extremely low and the price sinking even further. And this volume is a sadness, it seems like everyone is afraid to make any move!

The news that gave me a glimmer of hope

When I saw that the DeFi Development Corporation was buying 196,141 SOL at 202.76 dollars, I confess I felt a relief. Why on earth would a publicly traded company buy so much SOL if it didn't believe in the project? 11% more than what was announced before! Do these guys know something we don't?

This makes me think that maybe, just maybe, SOL has more up its sleeve than we are seeing. But I've also fallen into this trap before - big investors buying just to later dump everything on our heads.

What can go very right ( or very wrong )

Positive factors: These institutional whales entering heavily excite me. And technically, after this drop, there is indeed a chance for a strong recovery if it consistently surpasses 205.

Negative factors: That resistance at 212 is no joke! And let's agree, the crypto market is more unstable than my mood after three days without sleep monitoring charts. One bad news and everything goes down the drain!

What I am going to do ( and you might want to consider )

If you have a cold blood: start buying between 202-205, in increments. Set a stop at 197 (it's serious, don't ignore this!) and aim for 212 to take some profits.

If you're as crazy as I am: you can risk a small entry at 206.85, increasing your position if it goes above 208. Strict stop loss at 205.

This crypto market makes a fool of me every day. SOL is an ocean of uncertainties, but that's exactly where the opportunity lies. Keep your head in place - or you'll end up like me, talking to yourself while looking at 1-minute candles at three in the morning!

SOL4.23%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)