On November 12, SOL rebounded sharply but quickly met resistance, with bears maintaining their downward momentum.
【Today's Strategy】
Short entry zone: Set up positions on a rebound to 84.5–85.0
Stop loss: Above 85.8
Take profit: Target 82.5–82.0
【Key Rationale】
On the 30-minute chart, the rebound that began at the local low of 81.25 quickly plunged after reaching 86.58, forming a stair-step decline with progressively lower highs and leaving the bearish trend intact. The MACD lines have remained in negative territory. The rebound's green? red histogram bars were weak and short-lived, quickly turning green again and continuing to expand, indicating that bullish recovery momentum is severely lacking. This was merely a brief correction during the decline, with no strength to reverse the trend. The 84.5–85.0 area above is a consolidation platform from the previous decline. After support turned into resistance, substantial overhead selling pressure built up, making a renewed pullback likely if the price rebounds to this zone. As a highly volatile Layer 1 token, SOL's rebounds are far less sustained than those of major coins when the broader market is bearish, and it also tends to fall faster after a failed rally. Positioning short in line with bearish momentum near resistance better fits current market conditions. #sol
【Today's Strategy】
Short entry zone: Set up positions on a rebound to 84.5–85.0
Stop loss: Above 85.8
Take profit: Target 82.5–82.0
【Key Rationale】
On the 30-minute chart, the rebound that began at the local low of 81.25 quickly plunged after reaching 86.58, forming a stair-step decline with progressively lower highs and leaving the bearish trend intact. The MACD lines have remained in negative territory. The rebound's green? red histogram bars were weak and short-lived, quickly turning green again and continuing to expand, indicating that bullish recovery momentum is severely lacking. This was merely a brief correction during the decline, with no strength to reverse the trend. The 84.5–85.0 area above is a consolidation platform from the previous decline. After support turned into resistance, substantial overhead selling pressure built up, making a renewed pullback likely if the price rebounds to this zone. As a highly volatile Layer 1 token, SOL's rebounds are far less sustained than those of major coins when the broader market is bearish, and it also tends to fall faster after a failed rally. Positioning short in line with bearish momentum near resistance better fits current market conditions. #sol
