The ETH strategy shared earlier has now successfully captured its profit potential. The divergence after a sharp move is what’s most worth watching. $SOL The moving-average structure on both the four-hour and hourly charts is weighing on price. Price is stuck below the moving averages, repeatedly testing them, with each rebound weaker than the last. With this setup, I favor following the trend lower rather than buying the rebound.
The cluster of moving averages overhead is acting as resistance, and volume hasn’t expanded noticeably, suggesting limited buying interest. Once the key level gave way, room opened up to the downside. The structure supports further bearish continuation, though watch for a technical rebound if price moves too far from the moving averages.
🔴 Trade direction: Short
📍 Entry range: 82.7868 – 83.1156
🛑 Stop loss: 86.4398
🎯 Take profit 1: 80.3348
🎯 Take profit 2: 78.5906
🎯 Take profit 3: 75.9743
Take in the breadth of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the market’s gains and losses.
#SOL
Click below to trade 👇
The cluster of moving averages overhead is acting as resistance, and volume hasn’t expanded noticeably, suggesting limited buying interest. Once the key level gave way, room opened up to the downside. The structure supports further bearish continuation, though watch for a technical rebound if price moves too far from the moving averages.
🔴 Trade direction: Short
📍 Entry range: 82.7868 – 83.1156
🛑 Stop loss: 86.4398
🎯 Take profit 1: 80.3348
🎯 Take profit 2: 78.5906
🎯 Take profit 3: 75.9743
Take in the breadth of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the market’s gains and losses.
#SOL
Click below to trade 👇