📉 Sell Signal: SOL/USDT
The 30-minute chart shows that Solana (SOL) is facing resistance at a previous support level turned resistance area. After a sharp drop to the $67.50 area, the recovery has stalled, forming what appears to be a bearish retest.
... Trade Details
* Entry Zone: $85.10 - $86.50 (current price/close to resistance level)
* Target 1: $77.30 (previous support level)
* Target 2: $67.50 (local bottom/main tail)
* Stop Loss: $89.50 (above the yellow resistance line and recent highs)
Technical Analysis
* Resistance Confirmation: The yellow line at around $87.00 is firm. The price has not been able to maintain any momentum above this level.
* Moving Averages: The price is currently trading below the long-term moving average (purple line, 99 moving average), indicating that the overall trend is still bearish.
* Volume: The recovery volume appears to be lower than the initial selling volume, indicating weak buying interest at these higher levels.
> ⚠️ Risk Warning: Trading cryptocurrencies involves high risks. Always use an appropriate position size. If the price closes a one-hour candle above $90.00, the bearish hypothesis becomes invalid.
