$SOL — Bearish Breakdown & Retest Setup 📉
Bears are gaining control of $SOL after price broke below its local consolidation support. Now, the retest zone is acting as resistance, and sellers may be preparing for another move lower.
🔴 Trade Setup: SHORT $SOL
📍 Entry Zone: $103.55 – $103.80
🛑 Stop Loss: $105.70
🎯 Take Profit Targets:
- TP1: $100.00 – $102.00
- TP2: $96.05
- TP3: $94.00
Why am I watching this setup? 👀
SOL has lost its local support, and the current retest suggests buyers are struggling to reclaim the broken level. If sellers continue defending this zone, price could move toward the $100–$102 area first, followed by the stronger demand zone around $96.05.
A clean breakdown below $94–$96 could expose SOL to a deeper decline toward the $70–$75 macro support region. However, that larger move would require further bearish confirmation.
#sol #Solana #CryptoTrading #TechnicalAnalysis
$SOL
Bears are gaining control of $SOL after price broke below its local consolidation support. Now, the retest zone is acting as resistance, and sellers may be preparing for another move lower.
🔴 Trade Setup: SHORT $SOL
📍 Entry Zone: $103.55 – $103.80
🛑 Stop Loss: $105.70
🎯 Take Profit Targets:
- TP1: $100.00 – $102.00
- TP2: $96.05
- TP3: $94.00
Why am I watching this setup? 👀
SOL has lost its local support, and the current retest suggests buyers are struggling to reclaim the broken level. If sellers continue defending this zone, price could move toward the $100–$102 area first, followed by the stronger demand zone around $96.05.
A clean breakdown below $94–$96 could expose SOL to a deeper decline toward the $70–$75 macro support region. However, that larger move would require further bearish confirmation.
#sol #Solana #CryptoTrading #TechnicalAnalysis
$SOL