š SOLANA Update: Bearish Pressure Detected! Time to Take Position?
Hello Binance Square residents! š
Looking at the 4H SOL/USDT chart, Solana seems to be struggling hard to withstand selling pressure. After failing to break through the resistance at the $130 area, the price is now pressured below a series of crucial Moving Averages (MA).
Our Brief Analysis:
Trendline: The price is forming a lower high indicating seller dominance.
Indicator: RSI is at 38 (Bearish zone), and MACD shows slowing momentum in the negative area.
Target: The nearest support is around $124.25. If broken, the $120 area becomes the next stopping point.
š“ TRADING SETUP (High Conviction)
Pair: $SOL /USDT (Perpetual)
Bias: SHORT
Entry Zone: $126.50 - $128.50 (Optimal area near MA20)
Leverage: Cross 10x (Use risk management!)
šÆ Take Profit Targets:
$124.50
$122.50
$120.50
$118.50 (Moonshot target š)
šØ Stop Loss: $130.50 (Invalidated if the price returns to the bullish zone above psychological resistance).
ā ļø Risk Management:
Use a split entry strategy. Enter gradually (layering) and do not allocate more than 2-3% margin per position. Remember, the crypto market is very volatile, always use Stop Loss to protect your assets!
What do you think? Will SOL bounce at $124 or continue to dive below $120? Comment below! š