🔍 $SOL 1H: NO TRADE, pressing the range top under EMA50
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📊 State: SOL closed 83.96 on the 1H. It has ranged between 82.29 and 84.15 for about 20 hours since Tuesday's flush to 81.34. Price sits just under the 1H EMA50 (84.71) and far below the 1H EMA200 (88.66) and 4H EMA200 (98.82). The trend is still down, but the drop has stalled.
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🧱 Levels: resistance 84.15, then 84.7–85.0 (EMA50 and Tuesday's breakdown area) and 86.50 (30-bar high). Support 82.29, then 81.34.
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🚫 Why no trade: a short from ~84.8 needs a stop above 86.50 + 0.3×ATR (≈86.75). That makes TP 82.3 only ≈1.3R. A long needs a stop under 81.34 (≈81.09), and 86.50 is under 1R. Neither clears my 1.5R minimum.
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👀 What changes the bias: a 1H close above 85.0 that holds opens 86.5. A rejection there that loses 82.29 reopens 81.34 and makes a short worth reviewing.
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Not financial advice. DYOR.
#Solana #TechnicalAnalysis #CryptoTrading #BinanceSquare
⠀
📊 State: SOL closed 83.96 on the 1H. It has ranged between 82.29 and 84.15 for about 20 hours since Tuesday's flush to 81.34. Price sits just under the 1H EMA50 (84.71) and far below the 1H EMA200 (88.66) and 4H EMA200 (98.82). The trend is still down, but the drop has stalled.
⠀
🧱 Levels: resistance 84.15, then 84.7–85.0 (EMA50 and Tuesday's breakdown area) and 86.50 (30-bar high). Support 82.29, then 81.34.
⠀
🚫 Why no trade: a short from ~84.8 needs a stop above 86.50 + 0.3×ATR (≈86.75). That makes TP 82.3 only ≈1.3R. A long needs a stop under 81.34 (≈81.09), and 86.50 is under 1R. Neither clears my 1.5R minimum.
⠀
👀 What changes the bias: a 1H close above 85.0 that holds opens 86.5. A rejection there that loses 82.29 reopens 81.34 and makes a short worth reviewing.
⠀
Not financial advice. DYOR.
#Solana #TechnicalAnalysis #CryptoTrading #BinanceSquare
