Based on the chart you provided for $SOL /USDT:
Technical Analysis:
Current Price: 130.66 USDT
Recent Price Action: The price has recently dropped from 144.93 to 130.66, showing a clear bearish move, with a decline of 6.10%.
Key Support Level: 129.00 (low of the day) - this is a strong level to watch for potential bounce or breakdown.
Key Resistance Level: 135.37 (7-period MA) - price could face resistance here if it moves upward.
Entry Points:
Short Entry: Consider entering a short position if the price drops below 129.00 (break of support).
Long Entry: If the price bounces back above 135.37 (7-period MA) and shows bullish momentum.
Stop Loss:
Short Stop Loss: Place a stop loss above 135.37 to minimize risk if the price rises past this resistance.
Long Stop Loss: Below 129.00, just under the recent support.
Take-Profit Levels:
First Take-Profit (for shorts): Around 127.70 (previous lower support level).
Second Take-Profit (for shorts): Target 126.83 (a lower support level).
First Take-Profit (for longs): Around 135.20 (25-period MA).
Second Take-Profit (for longs): Around 136.51 (99-period MA).
Watch for volatility in the market as the price moves between these key levels. Ensure to adjust your positions as per market conditions and risk tolerance.
