$SOL: Fails Resistance Retest: Bearish Extension Imminent
SHORT SETUP SOL
Entry: $101.200 - $101.380
Stop Loss: $104.900
Take Profit: $94.0700 (2R)
Key Levels: Support $100.620 | Resistance $101.380
Technical Analysis for $SOL: The EMA suite (9,21,50,200) sits above the 101.03 price, confirming downtrend pressure. RSI at 46 and stochastic K below D signal weakening momentum. MACD histogram is negative, while ADX 24.6 shows an established trend. Price is testing the 1hour resistance near 101.38, supporting a short bias. Overall, the confluence points to further downside.
Market Context: BTC is in a bearish 4hour trend and mixed daily trend, with a 0.7% 24hour decline, contributing to broadly negative market breadth.
SHORT $SOL
SHORT SETUP SOL
Entry: $101.200 - $101.380
Stop Loss: $104.900
Take Profit: $94.0700 (2R)
Key Levels: Support $100.620 | Resistance $101.380
Technical Analysis for $SOL: The EMA suite (9,21,50,200) sits above the 101.03 price, confirming downtrend pressure. RSI at 46 and stochastic K below D signal weakening momentum. MACD histogram is negative, while ADX 24.6 shows an established trend. Price is testing the 1hour resistance near 101.38, supporting a short bias. Overall, the confluence points to further downside.
Market Context: BTC is in a bearish 4hour trend and mixed daily trend, with a 0.7% 24hour decline, contributing to broadly negative market breadth.
SHORT $SOL
