$SOL: Overbought Indicators Signal Impending Correction for $SOL
SHORT SETUP SOL
Entry: $110.200 - $110.870
Stop Loss: $115.000
Take Profit: $101.605 (2R)
Key Levels: Support $108.800 | Resistance $110.870
Technical Analysis for $SOL: SOL faces rejection at the 110.87 resistance, with price trading below the 50 and 200 EMAs. A break below 108.80 support confirms the move. Invalidation occurs above 115.00. Watch for sustained selling pressure to target the lower swing low. SHORT bias targets continuation toward support, with resistance as the invalidation level.
Market Context: BTC is bearish on the 4H, trading below key EMAs. Market breadth is broadly negative, with 63.4% of assets in the red.
SHORT $SOL
SHORT SETUP SOL
Entry: $110.200 - $110.870
Stop Loss: $115.000
Take Profit: $101.605 (2R)
Key Levels: Support $108.800 | Resistance $110.870
Technical Analysis for $SOL: SOL faces rejection at the 110.87 resistance, with price trading below the 50 and 200 EMAs. A break below 108.80 support confirms the move. Invalidation occurs above 115.00. Watch for sustained selling pressure to target the lower swing low. SHORT bias targets continuation toward support, with resistance as the invalidation level.
Market Context: BTC is bearish on the 4H, trading below key EMAs. Market breadth is broadly negative, with 63.4% of assets in the red.
SHORT $SOL