📈 $SOL Trading Setup

SOL is trading around $118–$121, with 24h price action still under pressure. Technicals remain bearish: RSI is around 39, MACD is negative, and price is sitting below the short-term EMA cluster.

I’m watching the $116–$119 support zone closely. I would rather wait for a confirmed breakdown than short directly into support.

Trade Idea

🔻 Direction: Short

Entry: $115.8–$116.5 after a confirmed breakdown and retest
Stop Loss: $118.2
Targets:
🎯 TP1: $113.5
🎯 TP2: $111.5

Why I'm Watching This Setup

• RSI remains below 40, showing weak momentum.
• MACD remains negative, supporting the bearish short-term structure.
• Short-term EMAs are stacked above current price, creating resistance.
• Solana has also launched its open-source DvP settlement tool, giving the network a positive fundamental catalyst even while price structure remains weak.

Risk management matters here. I would not chase the breakdown. If SOL reclaims the $118 area with strong volume, the short setup becomes less attractive. Keep position size controlled and risk only what you can afford to lose.

What do you think?
Would you take this setup, or wait for confirmation?

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