$SOL - Short Setup Update

Bias: Short

Entry: $121.9 – $123.0 (sell on dips)

Take Profit: $120.0, then $119.1

Stop Loss: $124.5

SOL trades near $121.9, showing weakness after failing to break through the $123–$124.4 resistance. The bounce from below $120 failed, showing sellers are still in control.

The market structure is weak. RSI at 48 is neutral to bearish, and net volume is negative, showing selling, not buying. The failure to regain higher prices suggests the rebound was temporary.

As long as SOL stays below $123, selling pressure will continue. A test of $120 is probable, and if broken, $119.2 could be tested next.

Invalidation: A close above $124.5 with volume would cancel the short bias.

Trade carefully with small positions, accounting for price swings.

SOLUSDT

Perp

123.87

+1.85%