$SOL
Solana (SOL) Short Position Signal
Pair:
SOL/USDT
Position:
Short
Leverage:
Cross 50X - 100X
Entry Zone:
$159.75 - $163.75
Targets:
- *Target 1*: $157
- *Target 2*: $154
- *Target 3*: $150
- *Target 4*: $146
Stop Loss:
$166.50 (4-hour candle close)
Risk Management:
- Enter positions in parts
- Allocate only 3-4% of your portfolio
Market Analysis
Solana is approaching a critical trendline resistance level, and the price action suggests growing bullish pressure. However, the short position signal indicates a potential downturn. Key levels to watch include:
- *Resistance Levels*: $196.95 (R1) and $200-$205
- *Support Zones*: $100, $85, and $65 (in case of a deep correction)
Technical Indicators
- *Death Cross*: Solana's 50-day moving average is set to cross below the 200-day MA, indicating potential downside movement.
- *Volume Surge*: A notable increase in trading volume during the breakout would confirm strong buyer interest.
- *Momentum Indicators*: RSI and MACD are crucial for understanding potential future movements.¹ ² ³
Trading Strategy
To capitalize on this short position, consider the following strategy:
- *Entry*: $159.75-$163.75
- *Stop Loss*: $166.50
- *Take Profit Targets*: $157, $154, $150, and $146
- *Risk Management*: Allocate 3-4% of your portfolio and enter positions in parts.⁴