Nov. 6: $SOL was dragged lower as a sharp Nasdaq sell-off weighed on tech and growth stocks across the board. October nonfarm payrolls are due tonight, and market sentiment is cautious. Favor short positions on rebounds.
【Today's Strategy】
Short entry zone: Scale in on a rebound to 92.5–93.5
Stop-loss: Above 94.5
Take-profit: 90.0–88.5
【Key Rationale】
The hourly chart shows a sharp, one-way drop on heavy volume, with bears in control in the short term. The 92.5–93.5 zone has turned into resistance after the breakdown, with concentrated selling pressure from trapped holders. Below, 88.0–88.5 is a prior-low support zone, and an oversold bounce may follow the steep drop. SOL is a high-beta asset with sharp volatility. Despite the steep decline, the overall trend remains weak and upside on a rebound is limited. Be sure to use a strict stop-loss. #sol #Binance will resume withdrawals for more assets
【Today's Strategy】
Short entry zone: Scale in on a rebound to 92.5–93.5
Stop-loss: Above 94.5
Take-profit: 90.0–88.5
【Key Rationale】
The hourly chart shows a sharp, one-way drop on heavy volume, with bears in control in the short term. The 92.5–93.5 zone has turned into resistance after the breakdown, with concentrated selling pressure from trapped holders. Below, 88.0–88.5 is a prior-low support zone, and an oversold bounce may follow the steep drop. SOL is a high-beta asset with sharp volatility. Despite the steep decline, the overall trend remains weak and upside on a rebound is limited. Be sure to use a strict stop-loss. #sol #Binance will resume withdrawals for more assets
