$SOL : Major Resistance Confluence & Rejection Setup 📉
Trading Setup: Short
Entry Zone: 138 – 140
SL: 146
TP1: 133
TP2: 130
TP3: 128
Technical Analysis 🔥
$SOL is encountering a formidable supply wall near the $140 zone, characterized by the convergence of key EMAs and historical resistance levels. The RSI has pushed into overbought territory, signaling that the recent rally is overextended and selling pressure is intensifying.
Execution Logic:
Entry: The 138–140 range offers a high-probability entry point as price action begins to stall and weaken at this structural ceiling.
Targets: Profit levels at 133, 130, and 128 are aligned with potential demand zones where buyers are expected to step back in.
Invalidation: The Stop Loss at 146 is placed safely above the recent swing high to protect against a bullish invalidation.
