$SOL
$SOL $BNB #SaylorBTCPurchase #MerlinTradingCompetition
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1. Trend Overview
• The current price is $170.95, reflecting a downward short-term trend.
• After reaching a low of $170.21, SOL attempted a weak recovery but is struggling to sustain above short-term resistance.
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2. Moving Averages (MA)
• MA 7 (Yellow): $171.43
• MA 25 (Pink): $171.76
• MA 99 (Purple): $174.09
Interpretation:
• The price is currently below all three key moving averages, indicating bearish pressure.
• The short-term MA7 is about to cross below MA25 again, reinforcing downside momentum.
• MA99 remains a strong dynamic resistance for any bullish breakout attempts.
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3. Support & Resistance
• Immediate Support: $170.21 (local bottom)
• Immediate Resistance: $171.76 (MA25) and $174.09 (MA99)
• Psychological Zone: $170.00 flat — if broken, could trigger further downside acceleration.
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4. Volume Analysis
• Volume is fluctuating but shows increased activity during drops, suggesting stronger sell-side participation.
• No clear bullish volume spike to support a reversal yet.
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5. Candlestick Behavior
• Recent candles are showing lower highs and lower lows — a continuation pattern of short-term downtrend.
• No bullish engulfing or hammer pattern visible — no clear reversal signals for now.
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6. Market Sentiment (Order Book)
• Buy pressure: 60.18%
• Sell pressure: 39.82%
This is mildly bullish in terms of sentiment, but price action is not following through yet — possible divergence to monitor.
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7. Trade Plan (Short-Term Scalping Idea)
Element Value
Entry Point Wait for candle close above $171.76 (MA25) with volume confirmation
Stop-Loss $169.80 (below local support)
Target 1 $173.20 (previous top)
Target 2 $174.00 (near MA99)
Risk/Reward Min. 1:2