$SOL – Testing Support, Bearish Momentum Building Up
Trading Plan: Short $SOL
Entry: 83.20 – 84.10
SL: 85.50
TP1: 81.50
TP2: 79.80
TP3: 77.50
Price action on the 4-hour chart is showing clear signs of weakness as $SOL struggles to maintain its recent gains. We are seeing a series of red candles with increasing selling volume, suggesting that the bears are taking control. The RSI has dropped below 40 and continues to trend downward, indicating that there is still room for the price to fall before reaching oversold conditions.
The MACD is also showing a bearish crossover, confirming the shift in momentum. While there is a minor support near the $82 level, the aggressive selling pressure and the current market structure suggest a breakdown is highly likely. If the price fails to hold this zone, we could see a quick slide toward the $78 mark. Keep a close eye on the volume; a break below support will accelerate the move.
Trade $SOL here 👇
Trading Plan: Short $SOL
Entry: 83.20 – 84.10
SL: 85.50
TP1: 81.50
TP2: 79.80
TP3: 77.50
Price action on the 4-hour chart is showing clear signs of weakness as $SOL struggles to maintain its recent gains. We are seeing a series of red candles with increasing selling volume, suggesting that the bears are taking control. The RSI has dropped below 40 and continues to trend downward, indicating that there is still room for the price to fall before reaching oversold conditions.
The MACD is also showing a bearish crossover, confirming the shift in momentum. While there is a minor support near the $82 level, the aggressive selling pressure and the current market structure suggest a breakdown is highly likely. If the price fails to hold this zone, we could see a quick slide toward the $78 mark. Keep a close eye on the volume; a break below support will accelerate the move.
Trade $SOL here 👇