📉 Range Rejection Setup
Price just rejected from the local range high near $148 🚫, a strong resistance level that has held multiple times. We’re seeing early weakness after the recent rally 🐻, as price fails to break above and begins losing minor structure.
💡 Trade Details
🔹 Entry: ~$146.20
🔹 Stop Loss: ~$148.35 (above high)
🔹 Target: ~$141.00 (range low + demand pocket)
This setup offers a solid 2.38R risk/reward ratio 💰.
⚠️ Trade Idea Summary
This is a classic range short 📊 — entering from the top, targeting the bottom. Momentum is fading, lower highs are forming, and if weakness continues, we should see price sink back toward mid-to-low range levels 🎯.
$SOL