๐จ $SOL โ Bearish Pressure Building on Market Cap Chart ๐
The Solana ($SOL ) market cap is showing clear weakness after failing to hold the 50.6B resistance zone. The chart structure indicates a strong rejection followed by continuous lower highs and selling pressure.
๐ Technical View:
โข Market cap rejected near 50.6B resistance
โข Strong bearish candle confirmed downside momentum
โข Price now consolidating near 49.7B support zone
โข Indicators leaning toward SELL bias
๐ฐ Trading Plan โ SHORT $SOL
๐ Entry Zone: 49.8B โ 50.1B
๐ Stop Loss: 50.7B
๐ฏ Take Profit Targets:
TP1: 49.3B
TP2: 48.8B
TP3: 48.2B
๐ Why This Setup Works:
After a strong push upward, the market faced heavy rejection at the resistance area and sellers quickly took control. The sharp drop followed by weak consolidation suggests this move is likely a continuation of the bearish momentum rather than a reversal. If the market fails to reclaim the 50B level, further downside expansion is very possible.
โ ๏ธ Always manage risk and wait for confirmation before entering the trade.
