$SOL – Overextended into Resistance, Correction Imminent
Trading Plan: Short $SOL
Entry: 89.10 – 90.50
SL: 92.80
TP: 86.50
TP: 83.80
TP: 81.20
Market Analysis:
The price has seen a sharp vertical move, but it's now hitting a heavy supply zone near the $89-$90 psychological level. Looking at the indicators, the RSI(6) is at 85, which clearly signals that the asset is deeply overbought in the short term. Additionally, the depth chart shows a significant "sell wall" building up just above the current price.
History shows that such parabolic moves without healthy pullbacks often lead to a quick "mean reversion." The MACD is losing its upward momentum, suggesting that the buyers are exhausted. I expect a retracement back toward the Supertrend support line or the previous consolidation zone near $83. Maintain strict risk management as volatility is high.
Trade $SOL here 👇
