Fireball Finance : SQL Breakout - Targeting $350!

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This weekly chart of SOL/USDT highlights a potential trading setup:

Support Zone: The green zone around $113.74 has shown strong buying interest, acting as a base for the current uptrend.

Fair Value Gap (FVG): A key area around $190-$200, marked in yellow, could serve as a liquidity zone for a possible retracement before resuming the upward move.

Resistance Zone: The red zone near $266 could act as the next significant hurdle. A clean break above this level could confirm bullish momentum.

Target: If the bullish scenario plays out, we may see SOL rally towards the target of $350, as marked in yellow.

Plan:

• Watch for price action near the FVG zone. A strong bullish reaction here may offer a good entry point.
  
• Monitor the breakout above the resistance at $266. A confirmed close above this level strengthens the case for reaching the $350 target.
  
• Use appropriate risk management. A stop-loss below the FVG zone or support near $113.74 can help manage downside risk.
  
• This idea is based on the current market structure and should be updated as price action evolves.
  

Note:
This content is for educational purposes only and is not investment advice. Always conduct your own research and consult with a financial advisor before making investment decisions.