๐จ๐ฅ SOLANA AT A DECISIVE POINT: LONG OR SHORT? ๐๐
$SOL $BTC
๐ Solana (SOL) โ 4H chart analysis
The price is near US$ 106.15 and remains below the major moving averages. Sellers are still showing strength! ๐ป
๐ด SHORT SCENARIO
If SOL loses the US$ 104.58 support with confirmation, it could move toward lower levels.
๐ฏ Entry to watch: US$ 104.40โ104.80, after confirmation of the breakout and a possible retest.
๐ฅ Take-profit targets:
๐ฅ US$ 102.50
๐ฅ US$ 101.00โ101.70
๐ก๏ธ Stop Loss (SL): above US$ 106.20.
๐ข What about a LONG?
If SOL recovers US$ 107.15 and breaks above US$ 108.84 with strong buying pressure, a recovery could begin.
๐ฏ Levels to watch: US$ 109.72 and US$ 112.85.
โ ๏ธ CAUTION: the RSI is near oversold territory, so a bounce could occur. Wait for the candles to close and confirm the move before considering an entry.
๐ก My take: the outlook favors a SHORT, but without confirmation, there is no safe entry. Risk management always comes first!
๐ Are you betting on LONG or SHORT on SOL?
#Solana #SOL #cripto #BinanceSquare #trading
$SOL $BTC
๐ Solana (SOL) โ 4H chart analysis
The price is near US$ 106.15 and remains below the major moving averages. Sellers are still showing strength! ๐ป
๐ด SHORT SCENARIO
If SOL loses the US$ 104.58 support with confirmation, it could move toward lower levels.
๐ฏ Entry to watch: US$ 104.40โ104.80, after confirmation of the breakout and a possible retest.
๐ฅ Take-profit targets:
๐ฅ US$ 102.50
๐ฅ US$ 101.00โ101.70
๐ก๏ธ Stop Loss (SL): above US$ 106.20.
๐ข What about a LONG?
If SOL recovers US$ 107.15 and breaks above US$ 108.84 with strong buying pressure, a recovery could begin.
๐ฏ Levels to watch: US$ 109.72 and US$ 112.85.
โ ๏ธ CAUTION: the RSI is near oversold territory, so a bounce could occur. Wait for the candles to close and confirm the move before considering an entry.
๐ก My take: the outlook favors a SHORT, but without confirmation, there is no safe entry. Risk management always comes first!
๐ Are you betting on LONG or SHORT on SOL?
#Solana #SOL #cripto #BinanceSquare #trading