7.30 SOL ideas for short-term trading
Trading levels: rebound 74.2-74.8 to sell in the range
Defensive level: 75.3
Targets: 73.0, 72.3
From the one-hour chart, SOL failed at 74.5 and dropped; the lowest dip was 72.26 where it stabilized. Now it has rebounded to around 74 and is fluctuating back and forth.
There is considerable selling pressure at the previous tops above. This rebound is only a weak rebound after a decline; the bulls do not have much momentum. For short-term thinking, prioritize selling/going short near the highs.
Recently, price movement has been quite volatile—don’t chase breakouts or panic-sell. Wait patiently until the rebound reaches the resistance area before trading.
Keep your position size light; be sure to manage your risk and place proper stops #SOL #cripto
Trading levels: rebound 74.2-74.8 to sell in the range
Defensive level: 75.3
Targets: 73.0, 72.3
From the one-hour chart, SOL failed at 74.5 and dropped; the lowest dip was 72.26 where it stabilized. Now it has rebounded to around 74 and is fluctuating back and forth.
There is considerable selling pressure at the previous tops above. This rebound is only a weak rebound after a decline; the bulls do not have much momentum. For short-term thinking, prioritize selling/going short near the highs.
Recently, price movement has been quite volatile—don’t chase breakouts or panic-sell. Wait patiently until the rebound reaches the resistance area before trading.
Keep your position size light; be sure to manage your risk and place proper stops #SOL #cripto