$SOL: High Conviction Short Opportunity as $SOL Tests Supply Wall
SHORT SETUP SOL
Entry: $118.040 - $118.380
Stop Loss: $122.938
Take Profit: $108.753 (2R)
Key Levels: Support $117.020 | Resistance $120.810
Technical Analysis for $SOL: Price sits under EMA9/21/50/200, confirming bearish bias. MACD line is below signal with negative histogram, adding momentum downside. RSI at 29 signals oversold, a possible bounce risk. Orderbook shows modest bid imbalance. A short entry between 118.04118.38, stop at ~122.20, TP near 110.20. Watch for a break above 118.38 as a reversal signal.
Market Context: BTC is in a bearish 1day trend and the broader market shows 82.9% red, adding pressure to risk assets.
SHORT $SOL
SHORT SETUP SOL
Entry: $118.040 - $118.380
Stop Loss: $122.938
Take Profit: $108.753 (2R)
Key Levels: Support $117.020 | Resistance $120.810
Technical Analysis for $SOL: Price sits under EMA9/21/50/200, confirming bearish bias. MACD line is below signal with negative histogram, adding momentum downside. RSI at 29 signals oversold, a possible bounce risk. Orderbook shows modest bid imbalance. A short entry between 118.04118.38, stop at ~122.20, TP near 110.20. Watch for a break above 118.38 as a reversal signal.
Market Context: BTC is in a bearish 1day trend and the broader market shows 82.9% red, adding pressure to risk assets.
SHORT $SOL
