$SOL is struggling to regain momentum after failing to reclaim the EMA50 on the 1H timeframe. Price is now trading below the Bollinger Band midline, suggesting sellers remain in control for the short term.
🎯 Entry Zone: $67.50 – $68.50
🛑 Stop Loss: $69.75
🚀 Targets:
• TP1: $66.50
• TP2: $63.80
• TP3: $59.50
The bearish setup is supported by weak follow-through after the recent bounce, with price rejecting near resistance and failing to establish a stronger recovery structure. Taker sell volume continues to outweigh buying pressure, while positioning data points to a crowded long market, creating the potential for downside volatility if support levels begin to break.
A rejection following the sweep of the $68.48 area adds weight to the short-term bearish outlook. However, risk management remains critical, and a move back above $69.75 would invalidate the setup and suggest buyers have regained control.
Trade smart and stay disciplined.
#NikkeiCrosses69700ForFirstTime