*$SOL USD CM BEARISH SETUP ALERT! 📉💥*
Hey traders! 👋 Let's dive into the technical analysis of the $SOL USD CM chart. 📊
*Current Price:* R$191,94
*Trend:* Bearish 📉
The chart is showing a clear downward trend, with the price declining over the past 24 hours. The 24-hour high was R$209,98, and the low was R$189,60. The current price is hovering around R$191,94, which is below the MA(7) and MA(25) levels.
*Key Levels:*
- *Support:* R$189,60 (previous low) 🔥
- *Resistance:* R$195,00 (current resistance level) 🚫
- *Current Price:* R$191,94 (between support and resistance) 🤔
*Trade Setup:*
- *Short Entry:* R$190,50 (below current price) 📉
- *TP (Targets):*
- TP1: R$188,00
- TP2: R$185,00
- *SL (Stop Loss):* R$194,00 (above resistance level) 🚨
*Why Short?*
The chart is showing a bearish trend, and the price is likely to continue declining. The current price is below the MA(7) and MA(25) levels, indicating a weak market sentiment. The support level at R$189,60 is likely to be tested, and a break below this level could lead to further declines.
*Risk Management:*
Always use proper risk management techniques, such as setting stop-loss orders and limiting your position size. Don't risk more than 2-3% of your account balance on a single trade. 💸
Stay safe, and happy trading! 📈👍
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