SOL/USDT – Sharp Rejection! Bears Testing the MA60
I'm watching $SOL closely after a strong upward spike was quickly rejected near $104.60. Buyers initially showed momentum, but the sharp pullback has brought price back toward its moving average.
SOL is currently trading at $103.92, down 2.05% over the last 24 hours.
What interests me here is the reaction around MA60 at $103.98. Price has slipped slightly below it, suggesting short-term bullish momentum is weakening.
I'm leaning toward a conditional short, but I'd prefer confirmation rather than chasing the decline.
My Trade Idea – SOL SHORT
📍 Entry: $103.92–$103.98 (on bearish rejection)
🎯 TP1: $103.81
🎯 TP2: $103.51
🎯 TP3: $103.21 (if selling accelerates)
🛑 Invalidation: Sustained recovery above $104.11.
A move back above $104.11 would weaken my bearish thesis and suggest buyers may be regaining control.
Recent volume activity increased around the volatile price movement, although the latest selling pressure still needs confirmation.
The immediate structure looks vulnerable, but this isn't a clean breakdown yet.
I'm watching whether SOL rejects the MA60 again before committing to the short.
I'm watching $SOL closely after a strong upward spike was quickly rejected near $104.60. Buyers initially showed momentum, but the sharp pullback has brought price back toward its moving average.
SOL is currently trading at $103.92, down 2.05% over the last 24 hours.
What interests me here is the reaction around MA60 at $103.98. Price has slipped slightly below it, suggesting short-term bullish momentum is weakening.
I'm leaning toward a conditional short, but I'd prefer confirmation rather than chasing the decline.
My Trade Idea – SOL SHORT
📍 Entry: $103.92–$103.98 (on bearish rejection)
🎯 TP1: $103.81
🎯 TP2: $103.51
🎯 TP3: $103.21 (if selling accelerates)
🛑 Invalidation: Sustained recovery above $104.11.
A move back above $104.11 would weaken my bearish thesis and suggest buyers may be regaining control.
Recent volume activity increased around the volatile price movement, although the latest selling pressure still needs confirmation.
The immediate structure looks vulnerable, but this isn't a clean breakdown yet.
I'm watching whether SOL rejects the MA60 again before committing to the short.