$SOL Solana
– 45m Chart Analysis
Current Price Action:
The price is around $134.94, showing a recent decline after testing the $138–$140 resistance zone.
Support and Resistance Levels:
Immediate Support: Around $134, with a stronger support zone near $132–$130.
Resistance: The immediate resistance is around $138–$140.
Trend Analysis:
The chart shows a bearish trend in the short term, with lower highs and lower lows forming.
Trade Setup:
Short Trade:
Entry: Around $136–$137.
Stop Loss: $140, just above the recent resistance level.
Take Profit: Around $132–$130, targeting the stronger support zone.
Buy on Support (Bounce Trade):
Entry: Around $132–$134.
Stop Loss: $129, just below the support level.
Take Profit: Around $138, aiming for the previous resistance.
Overall Bias:
The bias remains bearish until we see a clear break above the $140 resistance. A breakdown below $134 could lead to further downside.
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@Professor Mike Official @Richard Teng @CZ