🪙 Based on the current price action and candlestick patterns, a short-term correction looks more likely. 📉
Why?
Strong Rejection at Resistance
Every time the price tests the $88–$90 resistance zone, it gets rejected with long upper wicks. This signals weakening bullish momentum and strong selling pressure at the top.
Buying Pressure Is Fading
Although the price moved up, it failed to hold above resistance and keeps pulling back. This suggests that buyers are losing strength.
How far could it drop?
First support to watch: $85.00–$85.50
If that level fails to hold, the price could decline further toward $82.50–$83.00 (major support) before attempting another bounce.
💡 Strategy Suggestion:
Avoid entering a Long (Buy) position immediately.
While a pullback seems likely, instead of rushing into a Short, it may be safer to patiently for a dip near the $83 area and consider buying dip with proper risk management$SOL
