$SOL /USDT SOLANA Price Action Breakdown and Best Trading Strategy Plan ๐จโ๐ซ๐ค๐๐
Timeframes: 1D | 1H | 15M
Current Price: $171.68
Chart Pattern Analysis & Formed Candle:๐
1D timeframe is showing a short-term distribution phase after breaking previous resistance around $160.
CHoCH (Change of Character) observed multiple times near $174โ$175 suggests a supply zone actively rejecting upside.
$SOL Price is hovering at key demand area between $168โ$171 (marked by EQH/CHoCH on 1H).
15M chart shows micro rejections with BOS and lower highs indicating sellers still in control near $173.
Trend Signal:๐
1D MA structure is still bullish; 50MA and 200MA crossover confirms long-term upward structure.
1H & 15M show short-term bearish pressure, with price consistently forming CHoCH and minor BOS down.
Why Neutral-to-Bearish (for now):๐
Failed to sustain above $174 resistance multiple times (as shown on all timeframes).
Stochastic RSI cooling off from overbought zone on lower TFs.
Current candle structure at resistance is weak with repeated lower highs.
Trade Strategy (Short-Term Play):โโ๐
Bias: Bearish below $174โ
Sell Zone: $172.5โ$174๐ฏ
Targets: $170 โ $168 โ $163๐ฏ
Stop Loss: $175.5โฃ๏ธ
Trade Duration: 6 to 24 hours (intra-day to short swing)โ
Invalidation: Break and hold above $175.5 = long setup activation towards $185โ$200
Global Sentiment Insight:๐
Crypto market cooling after recent altcoin rallies; BTC hovering sideways
Solana network remains technically strong, but facing heavy resistance as whales offload near $175
No major bullish newsflow in last 24 hours; caution advised until breakout confirmation
๐จโโค๏ธโ๐จ"Price moves in silence before it shocks the world. Observe before you act."
Disclaimer:โ ๏ธ
This content is for educational purposes only and not financial advice. Trade at your own risk.