SOL/USDT Analysis: Bearish Opportunity 🔴
Solana ($SOL) is showing signs of exhaustion after hitting the upper resistance of the ascending channel. Looking for a potential breakdown.
📉 Trade Setup:
Direction: Short $SOL
Entry Zone: 94.5 – 96.5
Stop Loss (SL): 98.0 (Strictly follow)
Take Profit 1 (TP1): 90.0 (Close partial profit)
Take Profit 2 (TP2): 87.0 (Final target)
🔍 Technical Insight:
The price is currently retesting the lower boundary of the rising wedge on the 1H/4H chart. A confirmed break below 94.0 could lead to a rapid move toward the 87.0 support zone. Volume is decreasing on the upside, suggesting a lack of buyers at higher levels.
⚠️ Risk Warning:
Crypto markets are highly volatile. This is not financial advice. Please manage your risk and DYOR (Do Your Own Research) before entering any position.