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🔴 $SOL
L /USDT · Direction: Sell (SHORT)
SOL is trading below the declining exponential moving average (EMA) clusters on both the 4-hour and 1-hour timeframes, indicating continued selling pressure and the possibility of further downside.
📍 Entry zone: 70.4631 – 70.7769
🎯 Price targets:
TP1: 68.2461 (-3.4%)
TP2: 66.6635 (-5.6%)
TP3: 64.2896 (-9.0%)
🛑 Stop loss (SL): 73.7852 (+4.5%)
📊 Confidence level: Moderate, so it is preferable to enter with a limited position size.
Why do we expect a decline? The RSI on the 1-hour timeframe shows bearish momentum at 36.7, reflecting sellers' control over price action.
⚠️ Risks: The price has reached relatively low levels, and we may see bullish rebounds from this zone, especially since the RSI on the 4-hour timeframe has reached 22.3, indicating an oversold condition.
Trade management plan:
Close 50% of the position at TP1.
Close 25% at TP2.
Close the remaining 25% at TP3.
Move the stop loss to the entry point after reaching the first target.
🔥 The question now: Do you think SOL has room to fall further from current levels, or is a bullish rebound drawing near? 📉📈
#SOL #CryptoTrading #SHORT #Binance
🔴 $SOL
L /USDT · Direction: Sell (SHORT)
SOL is trading below the declining exponential moving average (EMA) clusters on both the 4-hour and 1-hour timeframes, indicating continued selling pressure and the possibility of further downside.
📍 Entry zone: 70.4631 – 70.7769
🎯 Price targets:
TP1: 68.2461 (-3.4%)
TP2: 66.6635 (-5.6%)
TP3: 64.2896 (-9.0%)
🛑 Stop loss (SL): 73.7852 (+4.5%)
📊 Confidence level: Moderate, so it is preferable to enter with a limited position size.
Why do we expect a decline? The RSI on the 1-hour timeframe shows bearish momentum at 36.7, reflecting sellers' control over price action.
⚠️ Risks: The price has reached relatively low levels, and we may see bullish rebounds from this zone, especially since the RSI on the 4-hour timeframe has reached 22.3, indicating an oversold condition.
Trade management plan:
Close 50% of the position at TP1.
Close 25% at TP2.
Close the remaining 25% at TP3.
Move the stop loss to the entry point after reaching the first target.
🔥 The question now: Do you think SOL has room to fall further from current levels, or is a bullish rebound drawing near? 📉📈
#SOL #CryptoTrading #SHORT #Binance
