$SOL /USDT is showing short-term weakness, and I'm not seeing a convincing recovery signal yet. What stands out to me is the sharp drop toward $96.11 after the brief bounce near $96.47.
Price is currently trading at $96.11, sitting below the visible MA60 at $96.62. The moving average is also sloping downward, which keeps the short-term picture under pressure.
I'm watching the $96.11 area closely as the latest visible low. For buyers to regain some confidence, I'd like to see price stabilize and reclaim the MA60 around $96.62. Until then, the selling pressure remains noticeable.
Trade Setup:
📍 Entry: No confirmed entry yet.
🎯 TP1: Not established.
🎯 TP2: Not established.
🎯 TP3: Not established.
🛑 Invalidation: Cannot be reliably defined from this chart alone.
What could go wrong?
If price continues below $96.11, further weakness is possible. On the other hand, a recovery above $96.62 could improve the short-term picture.
My Take: I'm staying patient here. The current momentum looks bearish, but chasing the move after this decline isn't attractive. I'd rather wait for clearer price action before considering a setup.
Price is currently trading at $96.11, sitting below the visible MA60 at $96.62. The moving average is also sloping downward, which keeps the short-term picture under pressure.
I'm watching the $96.11 area closely as the latest visible low. For buyers to regain some confidence, I'd like to see price stabilize and reclaim the MA60 around $96.62. Until then, the selling pressure remains noticeable.
Trade Setup:
📍 Entry: No confirmed entry yet.
🎯 TP1: Not established.
🎯 TP2: Not established.
🎯 TP3: Not established.
🛑 Invalidation: Cannot be reliably defined from this chart alone.
What could go wrong?
If price continues below $96.11, further weakness is possible. On the other hand, a recovery above $96.62 could improve the short-term picture.
My Take: I'm staying patient here. The current momentum looks bearish, but chasing the move after this decline isn't attractive. I'd rather wait for clearer price action before considering a setup.