The window hasn’t closed yet, but the divergence is already clear on the chart. $SOL is below both EMA50 and EMA200 on the four-hour and one-hour charts. Given this structure, I’m inclined to follow the bearish trend rather than try to call a bottom. The 15-minute ADX reading is elevated, and DI- is clearly above DI+, indicating that sellers are still in control. Any bounce looks more like an opportunity to enter short.
The moving-average band overhead is acting as resistance, and there’s a good chance price will meet resistance if it rebounds into that area. Below, watch how well price holds near the previous low. The main risk is a sudden surge disrupting the setup, so leave room in your position sizing and stop-loss. At this level, I’d rather wait for a confirmed rebound before looking for continuation than chase the drop.
🔴 Trade direction: Short
📍 Entry range: 103.1850 – 103.3517
🛑 Stop-loss: 104.9042
🎯 Take-profit 1: 102.0415
🎯 Take-profit 2: 101.2236
🎯 Take-profit 3: 99.9966
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong, and witness the gains and losses of the world.
#SOL
Click below to trade 👇
The moving-average band overhead is acting as resistance, and there’s a good chance price will meet resistance if it rebounds into that area. Below, watch how well price holds near the previous low. The main risk is a sudden surge disrupting the setup, so leave room in your position sizing and stop-loss. At this level, I’d rather wait for a confirmed rebound before looking for continuation than chase the drop.
🔴 Trade direction: Short
📍 Entry range: 103.1850 – 103.3517
🛑 Stop-loss: 104.9042
🎯 Take-profit 1: 102.0415
🎯 Take-profit 2: 101.2236
🎯 Take-profit 3: 99.9966
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong, and witness the gains and losses of the world.
#SOL
Click below to trade 👇